Warren Buffett Is Fond Of Saying That

I Didn't Think One Day Something Would Happen That Would Bring Me Back To Wall Street To Write What Is Essentially A Sequel.

It Is Far Better To Keep The Enemy Close, By Bribing Him With Stock Options, Than To Have Him Out In The Wild, Foraging.

The Irish Turned In On Themselves And Bid Up Their Own Land Prices In The Most Extraordinary Ways... The Irish People Stepped In And Guaranteed The Banks, And Committed To Repay Sums They Can't Afford To Repay, And Essentially Committed Themselves To Generations Of Suffering.

Looking Into It A Bit, Jamie Found That The Model Used By Wall Street To Price Leaps, The Black-scholes Option Pricing Model, Made Some Strange Assumptions.

The Incentives Are Still Rotten, And People Are Still Paid To Do Things They Shouldn't Be Doing. The Reforms Did Not Really Address The Incentives, The System Is Still Dysfunctional And There Are Still Behavioural Issues That Need To Be Addressed.