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"A sound banker, alas, is not one who foresees danger and avoids it, but one who, when he is ruined, is ruined in a conventional and orthodox way along with his
by ajb 3y ago
"A sound banker, alas, is not one who foresees danger and avoids it, but one who, when he is ruined, is ruined in a conventional and orthodox way along with his fellows, so that no one can really blame him"
- H8crilA 3y agoThe worst part is that very poor diversification / groupthink is exactly what creates financial bubbles and financial crises. We seem to be reaching that uncomfortable too-big-to-fail scale in computing / cyber security.
- marcosdumay 3y ago> We seem to be reaching We clearly reached it at the 90's. We have been waiting for the other shoe to drop since then.
- AlexandrB 3y agoOther shoe will not drop because the liability for mishandling customer/user data is minimal. I don't expect a scenario where Microsoft (of even Microsoft's cloud division) folds after this. Bear Stearns actually collapsed after their fuckups.
- dredmorbius 3y agoJMK: <https://www.greatsayings.net/john-maynard-keynes-sayings/a-sound-banker-alas-is-not-one-who-foresees-danger-and-avoids-it-but-one-2004414.html https://www.greatsayings.net/john-maynard-keynes-sayings/a-s...>