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Other McKinsey partners began saying of Skilling, “Sometimes wrong, but never in doubt.”

She said much of the finance industry has too narrow a view of its strategy and goals. It often becomes a short-term, almost zero-sum game with many investors focused only on small relative gains won against each other.

money and power as possible, or will the pursuit corrupt

The 2008 financial crisis wasn’t exactly responsible for what was going on, but it had played a role. Investment banks like Goldman Sachs and Morgan Stanley that had once taken the most interesting trading risks had become clunkier and more heavily regulated. They were being shoved into the boring Wall Street role once played by the big commercial

the cash-strapped American masses had a virtually unlimited demand for loans but an uncertain ability to repay them.

First journalists and accountants, then X-ray technicians, artists, and photographers, among many others, have undergone the disconcerting experience of watching old market structures that previously would have guaranteed lifelong livelihoods crumble before their eyes.