Skeeter,
I understand your view completely and don't dispute that individual greed is at work. But there are other things involved too.
My mechanic would be able to charge me for things he didn't fix or didn't have to fix with my consent. (I don't know much about cars)
He might even be able to convince me that he was giving me the best prices. If he did, personal greed would send me back to him time and time again.
I do not think that type of behavior is honest, ethical, or decent though, even if it's not unusual.
I am ignorant and he is willing to rape and pillage me for his benefit as a result. If he was already rich, it would make him look even worse in my eyes. I'm more apt to understand that behavior from a guy who is having a tough time making ends meet. Not multi-million dollar strategists, money managers, firm partners, (no names please (g)) etc... A balanced view like the one from Warren Buffett is not outside their range. If people still err, then it's their fault.
I believe the factual spin, hype, extremely optimistic assumptions and mostly one-sided media coverage is impacting people's behavior and it is not accidental.
Wayne |
