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
Long-term causes of the financial crisis? »Long-term causes of the financial crisis?
Human cognitive biases »Human cognitive biases
Lenders overconfident in their ability to manage risk »Lenders overconfident in their ability to manage risk
Better to all fail together than to underperform separately
Following theh herd hides individual incompetence »Following theh herd hides individual incompetence
Massive failure might bring on a bailout.  »Massive failure might bring on a bailout.
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