Exact(27)
He takes risks, but not reckless risks".
Not reckless risks, but controlled gambles.
This seems to be our fate: our bankers took reckless risks, but our regulators take none.
The second is that banks take reckless risks and then need rescuing by governments.
Of course, he also condemned Wall Street's "failure of responsibility," "perverse incentives," and "reckless risks".
If we increase the government backing and implicit subsidies for megabanks, will they take bigger or smaller reckless risks?
Similar(33)
Wall Street will keep incentivizing reckless risk.
That'd be an enormous, perhaps even reckless, risk.
Skewed compensation incentives clearly drove some of the reckless risk-taking that led to the crisis.
The government's goal is to reduce incentives to reckless risk-taking.
And we will make sure that pay and bonus policies incentivise smart decisions, not reckless risk-taking.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com