This article states that the problem is that the leaders of these firms are in denial of the actual worth. So, they can not accept the actual worth of the companies. I feel there is another problem they chose to get sub prime loans because they were so greedy they continued to hold the loans until they turned to so low they could not save their money.

While he makes a plausible case for his point of view, he doesn't address the idea that these folks were supposed to be experts. They had education and experience in finance. They supposedly understood these financial instruments that so baffled the rest of us. They had government agencies overseeing and regulating them. Didn't they? Now they're dragging down the economy, decimating people's savings, jobs, and lives. And nobody, including this author, has explained how it got so out of hand.

Although the article’s premise that denial by financial wizards led to the fall of venerable corporations, it’s an insular argument. A better title to describe this mess is, “Welcome to the Crisis Greed Created;” a crisis which makes mockery of neocon economic dogma that free markets correct themselves, and if businesses are left alone, goodness and mercy will result. Everyone now awaits the dreaded domino effect of a crisis expanding into unknown territory. The purse is probably closed to American auto manufacturers, famous retailers are boarding up stores, and bankrupt airlines are looking for ways to charge passengers for breathing.