The brainiacs on the Financial Crisis Inquiry Commission took a 600 page report to "discover" that the financial crisis was not an act of God. Wow, glad we could clear that up. This is the result when MBAs, suffering from extreme tunnel vision to "maximize shareholder value," combined with no clue that when they're all trying to outsmart each other and maximize future plausible deniability for their highly questionable, overly-risky gambling decisions, that is, "financial products," they all just end up tricking themselves. Then these short-term, profit focused, bonus-obsessed business robots collectively deny any and all responsibility, creating the illusion that they could not have seen it coming. And the sad thing is, since they deluded themselves, there is no hope that politicians and certainly not the public can understand that this is a massive load of bullshit. This has created, as Michael Lewis, author of The Big Short said in last night's LSE public lecture event, "socialism for the capitalists, and capitalism for everyone else." How true, and how sad.
FCIC Discovery
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