Wharton professor analyzes the crisis

Philadelphia Inquirer by Maria Panaritis | Oct. 20, 2008 (Interview)
An expert offers opinions on what caused the Wall Street bloodbath and what may happen next.

Siegel said employees looking to boost revenue at their otherwise profitable global financial firms "took the house money" and acted like gamblers. "I'm going to place it on Number 14 on the roulette table. Almost that's what they did. . . . No one was in control and no one understood what was going on." Full Story »

Posted by Kaizar Campwala

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Fabrice Florin
3.1
 by Fabrice Florin - Oct. 20, 2008

Interesting quotes from economist Jeremy Siegel's recent lecture about the economy. But the author adds little in terms of factual verification, sourcing or context.

Siegel said employees looking to boost revenue at their otherwise profitable global financial firms “took the house money” and acted like gamblers. “I’m going to place it on Number 14 on the roulette table. Almost that’s what they did. . . . No one was in control and no one understood what was going on.”

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