Peggy Drexler: The Mystery of the Masters -- How Could So Many be So Dumb?: "We've seen the flaming spiral of the wizards before. It is always followed by day-late regulatory reaction and determined assurances that this will never, ever happen again. And yet it does. Maybe not in quite the same way, but it does.
Will the depth and breadth of the pain this time create a better generation of financial leaders; not just smarter, but essentially different from those who, blindfolds tied firmly in place, have driven us off a cliff?"
(Via Huffington Blog.)
