It’s easy for this kru to laugh about blowing $7 billion, because managerially, it really is a joke to them – no one is really punished, their costs and benefits stay largely the same.

warum?

there’s almost zero incentive to manage (money, assets, etc) for long-run value creation, because near risk-free short-run compensation, like cash bonuses, massively outweighs risk-bearing long-run compensation.

bg