For twenty years, the DNA of nearly every financial institution… morphed dangerously. Each time someone at the table pressed for more leverage and more risk, the next few years proved them 'right.' These people were emboldened, they were promoted and they gained control of ever more capital. Meanwhile, anyone in power who hesitated, who argued for caution, was proved 'wrong.' The cautious types were increasingly intimidated, passed over for promotion. This happened every day in almost every financial institution, over and over, until we ended up with a very specific kind of person running things.
'There is a Silver Lining' [Newsweek, 11 October 2008]
Use the link below to read more about the work of North American financier, educator and textbook author BOYKIN CURRY:
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