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The Big Short: Inside the Doomsday Machine

by on Mar.30, 2010, under Stuff>Books>Social Science

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The owner of a company that I used to work for was a Wall Street insider. He got an MBA from Columbia University before working for Wall Street firms. When he tried to take his company public after working in Wall Street for decades, he did take advantage of his knowledge of how things work in Wall Street to cheat investors and was able to take his company public without a solid balance sheet. Of course, such a company could not last long, let alone staying on the stock exchange.

Greedy people are often dumb. It could be because their greed makes them dumb. They can only see short term interests. They are so much into pursuing short term interests that they can not care for their long term interests. That is also the reason why most governments that corrupted collapsed.

By the way, from these stories we can see that a person’s intelligence, education, knowledge, and experience does not automatically make that person an asset to a society. Whether he is an asset or a liability to a society all depends on what the purpose of his life is.

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