Re:What used cars tell us about the risk of too much inflati...
by credit_guy on Monday March 15, 2021 @08:20PM
(#26471286)
> if you insist "it can't happen here" (in the USA)
It can certainly happen. But absent some obvious incentives, I prefer to give the benefit of the doubt. (The Libor manipulation was done by people employed by the private sector, who had their career advances and their compensation linked to the way the Libor was marked.) You are right that some non-obvious group dynamics can happen in Government organizations, but based on this generic statement alone, we should refrain to accepting any conspiracy theory without at least a modest amount of intellectual due diligence.
When organizational failures happen, they don't happen with full transparency or with the participation of everyone in a large organization as if it were one big pyramid. Some people compromise with their conscience, but many others are just trying to balance doing their job as they see it with keeping their manager happy. The dynamics of sub-organizations depend on their directors and how much autonomy they have.