How could so many MBA’s be so STUPID?
The degree does not make the man or the woman.
I have been pondering the mortgage & banking mess for quite some time (haven’t we all) and the prevailing foundational question I keep coming back to is “how could so many MBA’s [or Ivy League MBA’s or high-paid MBA’s or insert your own version of MBA here] be so stupid?
I know, I know … the greed factor of course but I keep coming back to how so many people making so many common-sense mistakes on the road to collapse. And I am talking high-level executives that created, supported and continued to breathe life (or death) into the system. Sheesh.
Couldn’t you just do the basic math that says you need good credit, moderate-to-little debt and appropriately-sized income to handle x mortgage and that by writing and selling lots and lots and lots of these mortgages to vulnerable and ill-informed consumers that eventually the system will not be able to support itself?
Seems the lenders and banks that took the moderate (and I believe well-advised) road over the past 5 years are in the most enviable position today.
The degree does not make the man or the woman; the vision and decisions do.
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