In an ordinary industry, incompetent firms (and their employees) would be forced to exit. In the financial sector, the incompetent take on more risk, hoping to hit the jackpot, even while the regulator protects them by deeming them too systemically important to fail.
而竞争确实在这方面起着作用。竞争让赚钱变得更难，从而耗尽无能者未来的租（和股价）。在普通行业，无能企业（及其雇员）将被迫退出。而在金融部门，无能者会承担更多奉献，希望能够实现逆袭，原因固然是有监管者保护认为它们太大而不能倒，因此保护着它们。