In addition to the excessive focus on short-term results, a second important source of incentives to take excessive risks has thus far received little attention. The payoffs of financial-sector executives were tied to highly leveraged bets on the value of their firms’ capital.
除了过分专注于短期结果外，第二个使金融机构过度投机的重要激励来源目前还没有引起人们的注意，那就是金融部门主管的报酬与他们公司的资产价值的高度杠杆化相关联。