This Op-Ed article by Michael Lewis (the author of Liar’s Poker) and David Einhorn, is the best synopsis of what went wrong on Wall Street that I have read. To make it even better, he actually includes some real things that can and should be done in the future to make things better. The reason I like his way of thinking so much is because he focuses on incentives. I believe that it is always the first place we should be looking when things go wrong.
Tags: bubble, capitalism, corruption, financial crisis, SEC
January 5, 2009 at 1:54 am
sound slike a song
its the end of the world as we know it….its the end…i say start over-give everyone an 800 credit score and begin!