That's What Happens When You're

The Sheer Quantity Of Brain Power That Hurled Itself Voluntarily And Quixotically Into The Search For New Baseball Knowledge Was Either Exhilarating Or Depressing, Depending On How You Felt About Baseball. The Same Intellectual Resources Might Have Cured The Common Cold, Or Put A Man On Pluto.

You Can Anchor The Mind Into Answering A Question A Certain Way By Giving Them A Totally Unrelated Piece Of Information Dropped Before.

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.

Incredibly, At This Critical Juncture In Financial History, After Which So Much Changed So Quickly, The Only Constraint In The Subprime Mortgage Market Was A Shortage Of People Willing To Bet Against It.

When The Last History Of High-frequency Trading Is Written, Hunsader, Like Joe Saluzzi And Sal Arnuk Of Themis Trading, Deserves A Prominent Place In It.