Swearengen didn't make the Godfather's mistake
Every time I watch the scene where Al chooses Silas to be his delegate to Hearst, I am reminded of The Godfather.
Early in The Godfather, the Don decides to send his most loyal, feared henchman (Luca Brasi) to approach the Tattaglia family under the guise of being open to hire and not being happy with how the Corleone family is treating him. Problem is, Brasi was well known to be fiercely loyal to the Don, and it was unthinkable that he would turn on him. Solozzo and Tattaglia see right through this and eliminate Brasi, a huge loss for the Don. This has widely been regarded as a poorly calculated decision by the Don.
When Al needs to choose a delegate to Hearst, he explains to Adams that his second has to be perceived as capable of disloyalty, which Silas bristles at but goes along with. Al also explains to Dan later that despite his hurt feelings, that was exactly why he chose Silas for the role over him - no one would ever believe Dan as capable of turning on Al.
I often wonder if Milch thought actively about this parallel. Anyway, thanks for attending my Ted talk on Al performing better risk management than the Don in a similar scenario.