[pjmorris]

What's funny to me is that, not only is this also how the financial industry is structured, but that a) this is the currently fashionable means of reducing risk and b) it is seen as a feature not a bug.

Citation: Any book about the 2008 financial crisis, or the 1998 crisis, or the 1987 crisis, e.g.

[0] 'The Quants', Scott Patterson

[1] 'When Genius Failed', Lowenstein.

[2] 'Demon of Our Own Design', Richard Bookstaber.