What Others Are Saying

November 19, 2007

The havoc on Wall Street following the collapse of the subprime-mortgage market boils down to a simple truth: For years, lots of very smart people took lots of very foolish risks. But behind that simple truth is a more surprising one: The financial whizzes made bad decisions in part because that's what they were paid to do.

- James Surowiecki, The New Yorker

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