Review: All the Devils are Here: The Hidden History of the Financial Crisis

All the Devils are Here: The Hidden History of the Financial Crisis
All the Devils are Here: The Hidden History of the Financial Crisis by Bethany McLean

My rating: 4 of 5 stars

As a database administrator, we think in terms of maximum stability and how to predict failure so we can neutralize it. The cool and sexy are distant concerns. So I guess I lack much sympathy for the traders looking to maximize profits and neutralizing the risk desks.

If a model looks great, then you missed something important. Something that will bring it all crashing down.

Also, this book made me mull on this quote:

“All these voices on the outside were saying, ‘You are not relevant,'” Mudd later recalled. “And you have an obligation to be relevant.”

No! No! No! Anyone telling you this wants you to do something not in your best interests. It is a ploy to make you stop paying attention to the risks and screw yourself by giving them what they want. Not sure people deserve multi-million bonuses when they lack this knowledge.

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