Cocksure
Banks, battles, and the psychology of overconfidence.
Since the beginning of the financial crisis, there have been two principal explanations for why so many banks made such disastrous decisions. The first is structural. Regulators did not regulate. Institutions failed to function as they should. Rules and guidelines were either inadequate or ignored. The second explanation is that Wall Street was incompetent, that the traders and investors didn’t know enough, that they made extravagant bets without ... Full Story »
Posted by Derek Hawkins - via Fair Spin (Right), Publish2 (Business), New Yorker
