In real engineering, you try to figure out what might happen if your system fails. In ‘financial engineering’ you assume failure won’t happen, and get caught with your pants down when it does.
" A sound banker, alas, is not one who foresees danger and avoids it, but one who, when he is ruined, is ruined in a conventional way along with his fellows, so that no one can really blame him." John Maynard Keynes
