Twelfth lecture of the « Stewardship of Finance » chair. It is the notion of risk and the different forms of risk sharing which allow the building of a reasoned catalogue of all types of financial instruments and analysing them in an ethical perspective.

Is it admissible that taxpayers were required not only to pay for all the losses due to defaulting borrowers but also for all the bets between financiers which turned sour (a larger amount by a factor of ten)?