Faithful readers will know that "unintended consequences" are a favorite topic of this blog. George Wills latest essay offers a new turn on that phrase. Full essay is here. Excerpt here:
"Endorsing the axiom (attributed to Napoleon) that one should 'never ascribe to malice that which is adequately explained by incompetence,' Fisher says that TBTF banks 'are sprawling and complex — so vast that their own management teams may not fully understand their own risk exposures, providing fertile ground for unintended ‘incompetence.’ ”
thanks maggies
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