4 ms·
> To believe that Citibank, one of the most sophisticated financial institutions in the world, had made a mistake that had never happened before, to the tune of
by 6gvONxR4sf7o 6y ago
> To believe that Citibank, one of the most sophisticated financial institutions in the world, had made a mistake that had never happened before, to the tune of nearly $1 billion—would have been borderline irrational
This seems weird. There are all sorts of novel mistakes all the time, even by very competent groups. Even if it’s not a mistake, it would be a surprising action to take.
But most of all, it seems really weird to say it would be irrational to expect what happened would happen. Like people who profited off of 2008. Were they irrational or prescient? It’s impossible to tell a lot of the time, so “it would be irrational to be correct” seems like a very over strong statement.
- stingraycharles 6y ago> This seems weird. There are all sorts of novel mistakes all the time, even by very competent groups. I think the point is more that it’s entirely reasonable to assume that the receiver of the funds, in good faith, assumed that this wasn’t an error.
- 6gvONxR4sf7o 6y agoMaybe I’m just taking offense to an irrelevant point then. Conclusion A is rational and conclusion B is too (and in this case correct). Judge says B is irrational. But all that matters is that conclusion A is rational.