I started my career in the financial industry where I was first with Price Waterhouse and then the CFO of Janus Capital and the Janus Funds. I wish that background gave me better vision into the current meltdown in the financial sector. Like everyone else I’ve been wondering how the losses could be so huge.
Fortunately I am networked with a bunch of people trying to answer the same question. Here is a link to an excellent (but long) article by Michael Lewis. Lewis is the author of Liar’s Poker, one of the best books defining the 1980’s Wall Street boom from the perspective of someone in the trenches. It's one of the better explanations of how things got so out of hand.
I’ll find something more upbeat for my next posting.
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