You can't stick your bad paper to the banker who knows everybody in the town; he'll figure it out and that's the -and so that's the problem that's solved by bankers.

你休想把垃圾债权随便卖给银行家,因为他对这个圈子了如指掌,他定会识破的,因此银行家们就解决了逆向选择问题

耶鲁公开课 - 金融市场课程节选