A Banking System Is An Act Of

The Only Thing History Teaches Us, A Wise Man Once Said, Is That History Doesn’t Teach Us Anything.

Baseball Has So Much History And Tradition. You Can Respect It, Or You Can Exploit It For Profit, But It's Still Being Made All Over The Place, All The Time.

Icelandic People Are Inbred. And They Have A Sense Of Themselves As Genetically Special, And A History Of Risk-taking Because They Make Their Living On The High Seas Fishing. Assets Generally Rose In Value During This Period, And So It Looked Like They Actually Knew What They Were Doing.

Incredibly, At This Critical Juncture In Financial History, After Which So Much Changed So Quickly, The Only Constraint In The Subprime Mortgage Market Was A Shortage Of People Willing To Bet Against It.

In Their Leaders, Advisers, And Experts, People Much Prefer Overconfidence, Total Certainty, To Any Kind Of Doubt.