rue...to an extent. But the bankers NEVER COMPLAINED about being pushed into these loans - they seemed tolike the profits (and bonuses) at the time, and figured (correctly) that the government couldn’t touch them without having to explain a lot too. My point here is that the bankers had zero morals...I know that if I ran a bank that I would NEVER lend money to people that I knew could not pay it back - but then again, I’m not the type that runs banks.
I have about 40 years of professional experience. In my first 10-15 years, the Adults were pretty much in charge. That is, if you proposed something that was just plain stupid in the mid-long term, you got shot down—maybe even fired if it was stupid enough. That has not been true for the last 25+ years. Now, it if looks good (is profitable) in the short term, you are golden, regardless of the possible long term consequences. In fact, if you are the guy who raises objections because of long term impact, you are made out to be a Jackass. The idea is to get promoted and let your scheme blow apart on someone else’s watch. It’s stunning really.