Photo: a sprinter at the starting block. Equal opportunity is a stipulation that all people should be treated similarly, unhampered by artificial barriers or prejudices or preferences, except when particular distinctions can be explicitly justified.
Bailout definition, the act of parachuting from an aircraft, especially to escape a crash, fire, etc. See more.
The banks, knowing that they will be bailed out, take more risks. Here, the 'cushion' is the bailout, the principal is the government, and the agent is the bank. Principal-agent without moral hazard elements: A farmer hires someone to harvest wheat for them, and wants to maximize the wheat picked per hour.