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83 sats \ 11 replies \ @TNStacker 10 Aug \ on: Dovish Talk By Fed's Perma-Hawk Bowman news
Cultural shortcomings? How about fiduciary or moral shortcomings?!
This is why Bitcoin is peer-to-peer, permission less and trustless!
I may be misreading the tea leaves, but I took that comment to mean that they shouldn't be expecting to get bailed out: "If you go under, it was your own fault, so get your shit together."
They must be really worried about contagion and moral hazard.
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No financial manager should be expecting to get bailed out!
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I agree if you mean "should" in a moral sense, but not if you mean "should be expecting" in a purely predictive sense.
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Do you understand fediciary responsibility?
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You're supposed to pursue the greatest value for your shareholders. That implies making really risky high-upside decisions, if you have a high likelihood of being bailed out in the event of a loss.
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Ok, you line of thinking makes sense. You are using a very limited definition of the term. This is far more expansive than the definition you give and it is an actual legal definition.
Fediciary responsibility means you act for the client first. This means they are legally responsible to meet the expectations you describe.
The point I have tried to make is our point is the same if you use the fuller definition.
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It's a bit like how treason is only treason if your side loses.
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Not in my book. Treason is treason. It has a legal definition independent of your opinion and mine.
You're talking politics and who gets caught by which side. It is real, but it is B. S. Treason is treason.