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A Banking System Is An Act Of Faith: It Survives Only For As Long As People Believe It Will.
-Michael Lewis
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A Banking System Is An Act Of
Michael Lewis
A Banking System Is An Act Of Faith: It Survives Only For As Long As People Believe It Will.
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Believe
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People Were Paid Lots Of Money To Make Stupid Decisions, People In Big Banks, And When People Are Paid To Be Stupid They'll Be Stupid. The Question Was, Did They Know They Were Being Stupid Or Were They Just Stupid? I Think You Need To Take It On A Case By Case Basis. There Was Some Sinister Activity, But I Think By And By It Was People Being Incentivised To Do The Wrong Thing.
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Above All, Recognize That If You Have Had Success, You Have Also Had Luck — And With Luck Comes Obligation. You Owe A Debt, And Not Just To Your Gods. You Owe A Debt To The Unlucky.
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