(photo courtesy Mel Toast)
During the1929 financial crash, some Wall Street stockbrokers and bankers actually jumped from their office windows, committing suicide when confronted with the awful shame of their firm’s and clients’ financial ruin. Awful shame?
The catch phrase “moral-hazard” since then has been downgraded to junk status, with antiquated concepts like ethics and morals taking a backseat to “toxic-hazard” in board rooms from Wall Street to Sand Hill Road. But those were the good ‘ol days.
Many people were said to almost feel a little sorry for them.
In 2008 the attitude has changed somewhat…