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Old 04-20-2008, 02:38 AM
 
Location: Assisi, Italy
1,845 posts, read 4,092,302 times
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Peter Principle - Wikipedia, the free encyclopedia

Now thirty some odd years later has it come true? In the financial industry was there no one competent enough to see this sub prime mess coming? Education? Manufacturing? Health? Government? Legal? Are we there yet?

Last edited by Bob The Builder; 04-20-2008 at 03:03 AM..
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Old 04-20-2008, 04:21 PM
 
19,177 posts, read 30,311,861 times
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What is it about Dilbert that makes people chuckle? Is it that they think "Wow...wouldn't it be weird if the real world were like that!" or is it that they think "Holy crap! That exact thing happened at my office last week!"

As for the potential of surging sub-prime lending to lead to serious credit market problems as interest rates rose, plenty of people saw that coming. There were dozens of articles about it in the journals that typcially cover such things. But in an age of right-wing focus on laissez-faire free market capitalism, there was nobody minding the store who cared to try to do anything about it. So here we are...
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