this post was submitted on 30 Oct 2026
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Well crud. I hadn't seen that angle.
Yeah, my understanding is that once bankers have bet more of other people's pensions and life-savings than they can cover if they lose the bet, they are in line for a bailout.
In effect, the more catastrophic your bet is, the less personal responsibility you have to take for it.
One of the many hypocrisies and perverse incentives of capitalism.
"If you owe the bank $100, that's your problem. If you owe the bank $100 million, that's the bank's problem."
Needs to add if you owe the bank $1 Billion, then that's the governments problem.