Question: It is often thought that one of the problems with big banks is that CEO has perverse incentive: heads I win, tail you use. That

It is often thought that one of the problems with big banks is that CEO has perverse incentive: heads I win, tail you use. That is, there is an incentive to take excessive risks because there is high upside potential, but low downside risk. Larry Wall disputes that argument and has another explanation.

Why did he dispute it, and what was his explanation?

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