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
Der vorherrschende Glaube an ‚soziale Gerechtigkeit‘ ist gegenwärtig wahrscheinlich die schwerste Bedrohung der meisten anderen Werte einer freien Zivilisation.
— Friedrich A. von Hayek