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Uploaded on Dec 22, 2011
Satyajit Das witnessed first-hand the transformation of the financial industry's reward system, how bonuses replaced the "golden handshake" of private partnerships. Das also saw how in the financial business deviating from the norm is dangerous, which leads to a clustering of risk. The possibilities of gaming the bonus system are huge, in particular since the advent of complex valuation techniques. If the system can be gamed, it will be gamed, Das says in Part 3 of this INET interview.