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THE RING OF TRUTH
“If you really want to know why the financial system nearly collapsed in the fall of 2008, I can tell you in one simple sentence," an anonymous barstool financier tells writer Calivin Trillin. “The financial system nearly collapsed,” he said, “because smart guys had started working on Wall Street.”

Meanwhile, Baseline Scenario puts Trillin's theory through a more quantitative stress test here.
SOURCE:   New York Times

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