Not true.
In our current system, if you make a bad decision and you're the only one, you're out of luck. But if you follow the herd doing something stupid, you're rewarded by having your losses covered.
Allowing private profits but covering losses with public funds is fascist econonomic policy (using fascist in its real meaning, not just as an insult). Gee, what do we see going on in this country? My money being confiscated and given to "bail out" private losses.
So it becomes rational to take foolish risks, as long as there are enough others doing so. The incentives are set up to reward those who act irresponsibly...so with the system set up that way, it is rational to act irresponsbily, because the responsible will be forced to pay for problems, and you only stand to gain!
Like the old saying, if you’re going to owe money then owe enough that non-payment becomes the bank’s problem, not yours !
Exactly what money of yours has been given to cover exactly which losses? Please be as specific as you can. Thanks.