The difference between a card table and a trade exchange:

At a card table the winners show their hand, the losers don’t.

The tree planted atop the roof of the Manhattan Penthouse was drying out. So the gardener intervened. Water from the hose, destroyed the plant. Moral hazard zone, leave it to its winter water. Snow will melt next spring. Water from the hose destroyed your faith in water from the sky. Next time we will let you die. There is no moral hazard here.