There's No Point In Arguing

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.

People In The Voting Booth Are Not Purely Rational Creatures Any More Than They're Purely Rational Creatures Outside The Voting Booth.

I Was Really Interested In A Pretty Simple Thing: What Happens When Someone Tries To Introduce Moral Considerations Into Wall Street, What Happens When Someone Wants To Actually Demand Of Himself And Those Who Work With Him That What They Do Is Not Just Profitable But Good And Useful.

The Cdo Was, In Effect, A Credit Laundering Service For The Residents Of Lower Middle Class America. For Wall Street It Was A Machine That Turned Lead Into Gold.

Wall Street, With Its Army Of Brokers, Analysts, And Advisers Funneling Trillions Of Dollars Into Mutual Funds, Hedge Funds, And Private Equity Funds, Is An Elaborate Fraud.