While the subprime crisis is an enormous debacle, it is merely a symptom of the greater evil of allowing corporate interests usurp your government. This situation was so predictable, I’m starting to wonder if Wall Street doesn’t have ulterior motives.
I think there’s a more mundane explanation: a lot of very arrogant people thought they’d beat the system, and many of them were confident in their intelligence, planning, and in bail-outs if needed. Greed and pride are a powerful combination.
April 10th, 2008 at 3:36 pm
That is absolutely the best description I’ve seen. This is where deregulation and collusion with regulators has led us.
April 11th, 2008 at 2:26 am
While the subprime crisis is an enormous debacle, it is merely a symptom of the greater evil of allowing corporate interests usurp your government. This situation was so predictable, I’m starting to wonder if Wall Street doesn’t have ulterior motives.
April 11th, 2008 at 4:52 am
tfg—there is a conspiracy theory.
April 11th, 2008 at 2:38 pm
I think there’s a more mundane explanation: a lot of very arrogant people thought they’d beat the system, and many of them were confident in their intelligence, planning, and in bail-outs if needed. Greed and pride are a powerful combination.
April 14th, 2008 at 5:37 am
I guess there was a reason Pride and Greed were seen deadly sins….