Better to all fail together than to underperform separately
For any individual lender, it was better to all fail together than to underperform separately.
Immediately related elementsHow this works
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The Global Financial Crisis »The Global Financial Crisis
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Long-term causes of the financial crisis? »Long-term causes of the financial crisis?
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Human cognitive biases »Human cognitive biases
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Lenders overconfident in their ability to manage risk »Lenders overconfident in their ability to manage risk
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Better to all fail together than to underperform separately
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Following theh herd hides individual incompetence »Following theh herd hides individual incompetence
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Massive failure might bring on a bailout.  »Massive failure might bring on a bailout.
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