I wrote this comment over on filkertom's journal, but I'm saving a copy of it for myself here.
Let me preface this by saying that the current financial mess, like any problem big enough to be worth talking about, is complicated; there isn't just one thing that caused it or one thing we can change to fix it. There are as many suggestions for what caused the mess as there are people talking about it, and every cause I've seen suggested probably contributed a little to the mess.
For the most part, we're missing the point if we think we should just blame the top executives. ( Read more...Collapse )