Michael Lewis interviewed JAN 27 2009
The Atlantic's new business blog has an interview with Michael Lewis.
A related thing is that there was blind faith in the value of financial innovation. Wall Street dreamed up increasingly complicated things, and they were allowed to do it because it was always assumed that if the market wanted it then it made some positive contribution to society. It's now quite clear that some of these things they dreamed up were instruments of doom and should never have been allowed in the marketplace.