Wednesday, January 7, 2009

The Pressure to Produce Short-term Profits

This New York Times article does a good job of beginning to explain how the financial world got into such a bad mess. Greed was an insufficient cause, there's always greed. It talks about how bad the pressure is for companies to provide short-term profits, and how badly the rating agencies and the S.E.C. were at providing any valid information or regulation.

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