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.
What is Really Going on in FinanceJanuary 4, 2009