George Benston The Maverick Two landmark events Elections Financial Market Crisis Elections, Financial Crisis, and George Elections Both candidates rose to the top against conventional wisdom Both populists, and one as a self-proclaimed maverick
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Two landmark events
Financial Market Crisis
Value under bank
Figure 2: Bank Investment Opportunities
Compensation Structure: Manager gets a fixed salary S>0, and a fraction α of the equity of the bank. Also a bonus λ, which is increasing in the terminal cash flows realized.