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Why it’s smart to be reckless on Wall Street

18 Mar

Why it’s smart to be reckless on Wall Street (link)

“That asymmetry in pay (money for profits, flat for losses) is the engine behind many of Wall Street’s mistakes. It rewards short-term gains without regard to long-term consequences. The results? The over-reliance on excessive leverage, banks that are loaded with opaque financial products, and trading models that are flawed.”

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Posted by on March 18, 2013 in Recommended articles

 

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