Authors:
  • People were paid lots of money to make stupid decisions, people in big banks, and when people are paid to be stupid they'll be stupid. The question was, did they know they were being stupid or were they just stupid? I think you need to take it on a case by case basis. There was some sinister activity, but I think by and by it was people being incentivised to do the wrong thing.

    "The Big Short: author Michael Lewis on 'betting on Armageddon' during the global financial crisis; making of star-studded new film". Interview with Hayden Cooper, www.abc.net.au. January 14, 2016.