The Financial Crisis Is About Fear, Not Greed

Law360, New York (October 2, 2008, 12:00 AM EDT) -- As the financial industry slips further into despair and drags the economy down with it, I can’t help wondering how the brightest minds in the financial world failed to see this coming.

The only answer I get in return from our esteemed presidential candidates, the talking heads on TV and virtually everyone else I’ve asked is one word: greed.

The bankers’ greed has screwed us all, so the story goes. That answer appeals to my sense of outrage just as I imagine it appeals to yours....
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