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That often doesn't seem to be a result of competitive pressure, but of hubris. I think in many of those cases, in the framework set out by the article, the soci
by InsideOutSanta 2y ago
That often doesn't seem to be a result of competitive pressure, but of hubris. I think in many of those cases, in the framework set out by the article, the sociopaths would still be in charge of the company.
- JumpCrisscross 2y ago> often doesn't seem to be a result of competitive pressure, but of hubris Column A / Column B. If hubris is the root, the less hubristic competitor takes it over on failure. If competition causes excessive risk taking, the better-managed bank wins. The system really only loses when competitive pressure causes everyone to lower their guard, which happens, which is why banking has to be tightly regulated. (And this is true with or without fractional reserves.)