* Probably Mozilo was just a high powered opportunistic guy and probably was pretty much within the law with his trades and pay, however he must have known things were poised to melt down to some degree.
* Our congressional system is failing to produce people who are worthy of ruling the amazing American empire. I don’t think there is much corruption but these guys sure are uninspired. The congress-as-corrupt view is a “naivety of the skeptic” idea that is not based on a study of the money flow, personalities, and history of public servants who for the most part are bright, helpful people. However they are mostly lacking in the key skill sets required for innovation and smart reform. In short: American politics selects for the wrong skill sets. To wit:
* Republicans can’t see past Ayn Rand’s ass. They understand the virtues of capitalism, but simply refuse to focus any attention on the key topic of how our brilliant capitalisic experiment has *failed* in many ways to deliver enough products to the neediest folks and how many capitalists are mostly focused on the creation of opportunistic business structures that are exploitable by the clever and the wealthy to the detriment of the greater society. .
* Democratic congresspeople are overwhelmed by math and economics. They concentrate on people, “good vs bad”, “rich vs poor”. * People want to find bad guys rather than find the obvious. In the case of mortgages the system as a whole incentified unwise practicies. Reminds one of the savings and loan debacle although I think government regulations (loan guarantees) were clearly at fault with S&Ls were the mortgage crisis cannot be blamed mostly on the government.
* Is there a simple legal remedy for all the CEO pay and stock manipulation issues? I propose a “Captains go down with the ship” law. If a company you founded fails you lose everything you made from that company except some modest monthly stipend. This would incentify stability over pump and dump strategies. I don’t think it would inhibit founding quality companies. What unintended consequences would this law bring to the business landscape?