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The best case would involve Beijing's stepping in to supply local governments with funding or take on some of their debt, although Moody's acknowledged that this would raise so-called moral hazard issues of banks' assuming excessive risk, knowing the government would always come to their rescue.
They take excessive risk, knowing they will never have to pick up the tab if things go wrong.
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You invest at Your own risk, knowing profits are not guaranteed and losses are possible.
You must risk knowing you are worthy.
Those are examples, the company said, of excessive risk.
All this strengthens the incentives for future excessive risk taking.
The report said the crew "did not perceive excessive risk".
"The excessive risk of suicide in men and midlife continued to be a concern.
"That might make the excessive risk takers really go wild," he said.
Yellen also warned that if rates were kept low it could lead to excessive risk taking.
Casson suggests the pressures of globalisation have encouraged the excessive risk that heralded the financial crisis.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com