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Back on what happened, there was so much propaganda in the air. there was this kind of collective thing, group thing on wall street that this all was okay. this business. it was obviously insane. nobody wanted to say no. it was almost rude to say that this is a disaster. in the making. so the people who said that in the first place were socially equipped to say it. they we they were kind of walled off. one of them had asburgers syndrome. he was just looking at data. that was the first ingredient that made it possible for them to see the truth. >> are they smarter? why are they more independent...

When i walked into this story and decided to write another book about wall street, which i didn't think i would ever do, was that the whole system had organized itself around this bet. i mean, the whole system was basically on the other side of the bet. the whole system was betting on the subprime mortgage market in one way or another. so few people were on the other side. so few people saw what was happening. but they really did see what was happening and they could describe it and persuade you, even in real time what was happening, but nobody wanted to hear it. to me, it's a finance story. i...

Tell it. >> but this is the problem. you know, when you ask, even the people who are most cynical about what happened, were they crooks? or delusional? did they believe their lie or now believe the lie kind of thing. most of them would say there were some crooks, but mainly they were delusional. the story i've written, what interested me about the story was that it was as much about human perception as anything else. you had this set of facts in the financial world about the relative soundness of all these loans being made, and the vast majority of the financial world took those facts and arra...

Latest updates on this topic from reliable sources.

Latest updates on this topic from reliable sources.