This is one of the consequences of the modern obsession with "reach for yield" or growth at any cost. Everyone feels pressure to put every single dollar "to wor

This is one of the consequences of the modern obsession with "reach for yield" or growth at any cost. Everyone feels pressure to put every single dollar "to work", because everyone else is. It's an extremely fragile modus operandi, but managers would get fired for underperforming their peers if they didn't do it, so the incentive structure guaranteed the result.