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> This is the only explanation that doesn't depend on a source of dumb money that can never learn buying this debt. No it isn't. A simpler explanation is that
by idontpost 3y ago
> This is the only explanation that doesn't depend on a source of dumb money that can never learn buying this debt.
No it isn't. A simpler explanation is that the people making the decision aren't the ones paying for the failure. I see this all the time at the executive level in finance -- people will knowingly make bad deals if it gets them their bonus.
- chii 3y agobut how are they getting a bonus if the deal is bad? Esp. if it has gone on for a while?
- s1artibartfast 3y agoSomeone still has to be losing money on that deal or it's not a bad deal. Someone is paying the bonus and giving the executive money to invest You're also starting from the assumption that the deals are bad. Why is that?