Template:AI Rubin trade

The Rubin trade is a term coined by Nassim Nicholas Taleb, a former trader and risk analyst, presently presenting as a bon viveur, know-it-all and windbag on Twitter, in his book Skin in the Game. It refers to a situation where a person takes risks and enjoys the magnificent short term benefits, while passing embedded, hidden and catastrophic downsides to others. The term is named for Robert Rubin, a former Secretary of the United States Treasury, who left government to work in the banking sector and “collected more than $120 million in compensation from Citibank in the decade preceding the banking crash of 2008. When the bank, literally insolvent, was rescued by the taxpayer, he didn’t write any cheque – he invoked uncertainty as an excuse.”