Re:Failure must always be an option
by nazgulnarsil on Sunday September 21, 2008 @06:47PM
(#310646)
What does all this have to do with the mortgage crisis? I believe that the mortgage crisis is essentially my experience at JPL writ large. Both situations were produced by a set of rules that produced perverse incentives that rewarded people for acting contrary to the greater good. In my case, I was rewarded for publishing useless papers. In the case of the mortgage industry, banks and brokers were rewarded for making bad loans. And in both cases, if push came to shove, the government with its deep pockets was there to foot the bill.
when you hear the truth it rings like a bell.