An opinion piece by Chris Arnade on the asymmetry in pay (money for profits, flat for losses), which he describes "the engine behind many of Wall Street’s mistakes" That asymmetry "rewards short-term gains without regard to long-term consequences," Chris writes in a new guest blog at Scientific American. "The results? The over-reliance on excessive leverage, banks that are loaded with opaque financial products, and trading models that are flawed." [Scientific American Blog Network]

  • http://imcravingpresidency.tumblr.com/ SedanChair

    That asymmetry “rewards short-term gains without regard to long-term consequences,” 

    Ooh, maybe this is the time that pointing out that theiving bankers run our system will effect change!

  • peregrinus

    I’ve never understood why people are willing to give their money to someone who suffers no penalty for losing it.  Never.

    • Boundegar

      Now you know why so many banks have names like Fidelity Trust and Responsible Honesty,  You’re supposed to trust them.

      • peregrinus

        Responsible Honesty – lmfao!

  • Chris Bubonic
  • Elliott B.

    Wait, did you link source twice? o_O

    • ocker3

       I was wondering about that too