Tortoise makes his employing bank $10 million a year for five years, and receives a yearly bonus of $1 million. Hare makes $100 million a year for four years, receives a yearly bonus of $20 million—the higher percentage payout is to keep this star from leaving for a hedge fund—but in the fifth year loses $500 million and receives no bonus. Despite Hare’s huge loss, he does not have to repay his past bonuses. Doing our sums, we find that at the end of five years Tortoise has made the bank $50 million and has been paid $5 million, while Hare has lost the bank $100 million yet has pocketed $80
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