Jordan BelfordOct 19th, 2008
video.canadiancontent.net/424...d-is-good.html (external - login to view)
In my experience the start was the wide spread use of credit scoring.
It allowed for centralized interpretation of the conditions on the ground without the tacky need for having experienced people deployed, or so they thought. Now it is seizing up the credit system as the Bankers have broken the first law of Banking, which is "know your client".
I'm not a Banker anymore, but I have kept in touch with the "tribe" and the dumbing down of operations due to credit scoring is astounding in just 30 years.
Greed is all they have left, they can't actually think anymore.
A good friend 20 years ego said to me that Greed is the virus which Power is exposed to and some top man and women conduct them self's as if they are made out of stainless steel and they will never rust. Looking at people like Kenneth Liy of Enron dies in jail, Conrad Black and his partner in business in jail, shame is a word for these people not known to them, if anything Conrad has added an addition name to his name, Conrad Greedy Black.............while investors lost their savings...
it is interesting how that very belief that GREED IS GOOD came back to haunt the capitalist mind.....
Wall Street Greed is Good - Video (external - login to view)