The incentives are still rotten, and people are still paid to do things they shouldn't be doing. The reforms did not really address the incentives, the system is still dysfunctional and there are still behavioural issues that need to be addressed.
Michael LewisI'd say part of the appeal of Trump is that he's presenting himself as a totally certain, infallible person.
Michael LewisThe idea that it's smart to allow Wall Street firms, with this "too big to fail" imprimatur, to become hedge funds again - it's unconscionable. You're essentially saying we're going to take some elites in our society and let them roll the bones in the marketplace, and if it works out they get rich, and if it doesn't work out the taxpayer comes in again. That seems absolutely crazy to me. That seems to be where they're headed. I mean, maybe they're not and I'm wrong. Maybe they'll do sensible things. It's hard to know! There doesn't seem to be a plan.
Michael LewisIf you have a patient in a doctor's office who's just been told they have terminal cancer but there's this operation they could perform right now that might save their lives. ... They have a 90 percent chance of surviving the operation โ if you tell them that, they respond one way. If you tell them ... that they have a 10 percent chance of being killed by the operation, they are about three times less likely to have the operation.
Michael LewisThe sheer quantity of brain power that hurled itself voluntarily and quixotically into the search for new baseball knowledge was either exhilarating or depressing, depending on how you felt about baseball. The same intellectual resources might have cured the common cold, or put a man on Pluto.
Michael Lewis