10 reasons Wall Street may crash

Published: Friday, March 16 2012 1:42 p.m. MDT

Amnesia: Since 2008, Wall Street's memory erased Next » 1 of 10 « Prev
Henny Ray Abrams, AP
Banks have no memory of extreme crisis or of what can happen when a nation lets huge amounts of risk build up outside the required safeguards in economies. Bank insiders are short-term thinkers who discount long-term costs to zero, and pass them on to taxpayers.
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This is frightening. I'd say point number ten--short-term thinking guarantees another crash is the number one culprit. I certainly agree that shortsightedness is setting the stage for a global catastrophe. Societies fail because their leaders only focus on the issues likely to explode in the next 90 days, It all makes one feel so helpless.

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