Behind the Curve: 2008 Meltdown

I just saw “Inside Job”, the prize winning documentary.  One of the persons (sorry didn’t catch the name) interviewed stated that the regulators were “behind the curve”.

The U. S. has had a series of financial crises from the 1980s to the present recession:  In the ’80s, the savings and loans fallout/Keating disaster and the Capitol Management crisis; in the 90’s the dot com bubble; and now the continued repercussions of the 20008 housing/financial services meltdown. Financial deregulation started under President Reagan, continued under President Clinton, and accelerated under President George H. W. Bush.  

Behind the curve, can be thought of as behind the learning curve or behind baseball’s curve ball.  Whatever the background of the idiom/metaphor, it’s a strike.  And all of us struck out.

It is hard to believe that so many bright persons can be so impervious to the signals of disaster.  I think it’s hubris.  They were all “type A” personalities who thought they were godlike,  but really were like lemmings following one another over a cliff into the sea of dishonor.



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