Bloomberg is reporting the fate of Christian Bittar who was the top trader at Deutsche Bank AG. He earned a bonus of $126 million in 2008 for betting that as the economy would melt down, banks would refuse to lend to each other until the dust settled so short-term rates would ……………….
Punishing Traders for What Central Bankers Do All the Time
Wenn die Massen im Chor singen, wird der größte Stumpfsinn zu einer feierlichen Hymne.
— Leopold Kohr (1909 – 1994)