What is key for the maintenance of price stability over the medium term is that the temporary increases in inflation arising from such exogenous price shocks do not become ingrained in inflation expectations, giving rise to broad-based second-round effects on wage and pricesetting behaviour, eventually turning an initially transitory increase in inflation into a permanent one.
Many institutions that had skin in the game got into trouble anyway – perhaps because it is hard to judge how much skin is enough to maintain proper incentives. In addition, it may be impossible to police whether an institution has chosen to keep its own skin in the game or whether its risk has been mitigated through hedging.