The financial crisis was a result of greed and ignorance from "summary" of The Big Short by Michael Lewis
The financial crisis wasn't caused by chance or bad luck. It wasn't a random event that no one could have foreseen. It was a result of human behavior - specifically, greed and ignorance. People were greedy for more money, more power, more success. They were willing to take risks and ignore warning signs in pursuit of these goals. At the same time, there was a widespread lack of understanding about the risks involved in the financial system. People didn't fully grasp the complex financial instruments they were dealing with. They didn't see the potential consequences of their actions. They believed that the good times would keep rolling, that the housing market would never collapse, that the system was foolproof. This combination of greed and ignorance created a perfect storm. It l...
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