smacko9
Tue, 16 Mar 2010 08:10:56 -0700
60 Minutes: Inside the Collapse - Michael Lewis Interview [ video ] Wall Street is able to delude itself because it's paid to delude itself. I mean one of the lessons of this story is that people see what they're incentivized to see. If you pay someone not to see the truth, they will not see the truth. And, Wall Street organized itself so people were paid to see something other than the truth. And that's one of the central messages of this story... Goldman Sachs persuaded [AIG] to insure these piles of loans without them ever investigating what was in the pile. So, there's an additional level of incompetence. ... http://www.cbsnews.com/stories/2010/03/12/60minutes/main6292458.shtml?tag=currentVideoInfo;segmentTitle -- You received this message because you are subscribed to the Google Groups "ShadowGovernment" group. To post to this group, send email to shadowgovernm...@googlegroups.com. To unsubscribe from this group, send email to shadowgovernment+unsubscr...@googlegroups.com. For more options, visit this group at http://groups.google.com/group/shadowgovernment?hl=en.