"You have a system that's 'Heads, I win a million dfollars, tails the firm loses a million dollars.' There is a strong, rational reason for as trader to take excessive risks."
Prof. John C. Coffee Jr. of the Columbia Business School, quoted in the New York Times (Mar. 5, 1995). Coffee was referring to the case of Nicholas W. Leeson, the 'rogue trader' who caused the bankruptcy of Barings P.L.C.
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Teach-In Article Was Inaccurate