VaYank5150
Gold Member
Did anyone see this on "60 Minutes" last night?
Author Michael Lewis On Wall St's Delusion - 60 Minutes - CBS News
Author Michael Lewis On Wall St's Delusion - 60 Minutes - CBS News
"Wall Street is able to delude itself because it's paid to delude itself. I mean one of the lessons of this story is that people see what they're incentivized to see. If you pay someone not to see the truth, they will not see the truth. And, Wall Street organized itself so people were paid to see something other than the truth. And that's one of the central messages of this story. You have to be very careful how you incentivize people, 'cause they will respond to the incentives," Lewis explained.
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