In addition, it would be mostly the free market american capitalism which is more inclined to create boom and busts. But would you expect less from driven and motivated people who come out of universities like Harvard, Stanford? Could you expect them not to be aggressive, putting them into an environment where deals make money?
Anywhere in the world, from africa, china, to europe and US, the intelligent, creative and motivated float up to the top through many ways and means. I don't think they were thinking of the global financial crisis and saving the world while thinking of meeting their annual budget through structured CDOs. Nether would you be thinking about the world at large while you work as a HR manager in your polluting coal fired power plant or Sumatra / Kalimantan burning forest unfriendly paper company at Tuas.
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Originally Posted by lordlad
Just wondering... R u an investment banker/analysis as well? I will trust your opinion a lot more if you are NOT.....because if you are, that means your opinion are definitely subjective and favour towards your own. The invasion of Iraq is based on the fallacy of WOMD which the leaders from the respective countries swear they exist...until they ceased to exist. It's complicated issue, they said..
I agree that it is not one factor that caused the financial mess and string of events were complicated but all complicated things had a simple origin. Not every banker is evil perse....but enough of them that wield enough influence caused the mess that snowballed into the mess that is now. Denying it is akin to bill Clinton proclaiming "I did not have sexual relationship with that woman." You can "try" to convince the common men but the first person you need to convince is yourself.
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