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Sat 27 Dec, 2008 07:08 am
Quote:And why, in the words of Queen Elizabeth II, did none of the experts see it coming? The answer lies in a toxic combination of failures in risk management and regulatory oversight, as well as skewed incentives, particularly in the area of credit derivatives – the sophisticated financial products which dispersed rather than concentrated risk in the system.
My question is about the meaning of "skewed incentives", what do they refer to?
Skewed incentives would mean incentives the purpose of which was apposite, or inappropriate. Not being the author of that particular rant, i have no idea why the author alleges that there were skewed incentives.
Skewed means warped. Incentives means aims. put them together and you have warped aims. twisted mothers. Crazy actions.
Her majesty was saying that those folks are bad to the core.
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