People were paid lots of money to make stupid decisions, people in big banks, and when people are paid to be stupid they'll be stupid. The question was, did they know they were being stupid or were they just stupid? I think you need to take it on a case by case basis. There was some sinister activity, but I think by and by it was people being incentivised to do the wrong thing.
Michael LewisThe institutions at the centre of capitalism are bigger than they've ever been, the pay is much greater, the ability of society to get its arms around it is much less. The political clout of the financial class is unbelievable. I'd say the story is darker than when I was there. When I was there it felt like a comedy - and now it feels more like a tragedy.
Michael LewisIn Wall Street now, you have to hide what you're doing. It's more fun when you don't have to do that. But I don't think its sense of purpose has changed at all.
Michael LewisI think that fans are always looking for someone to blame. Wouldn't it be nice if they looked in the mirror?
Michael LewisIn their leaders, advisers, and experts, people much prefer overconfidence, total certainty, to any kind of doubt.
Michael Lewis