Surowiecki: Wall Street Excess Due to Regulatory Failure “We need an attitudinal shift on the part of regulators, who need to recognize that their gentleman’s-club ethos is ill-suited to today’s financial world, and who need to be aggressive not just in punishing malfeasance but in preventing it from happening.” –James Surowiecki, “Bankers Gone Wild“; The...Read More
Greedy, Stubborn & Stupid? No, Just Greedy I’m sure like a lot of people (and almost all *Realtors), I assumed that banks’ unwillingness to modify underwater mortgages en masse was due to greed, stubbornness, or stupidity — or a combination of all three. And while I think that there’s plenty of evidence to support that...Read More
