Lehman, Andrew Ross Sorkin, Ben Bernanke discussed on Midday on WNYC

Automatic TRANSCRIPT

I think that that was quite possibly part of what insulated the leadership at lehman from seeing the situation as it was i mean andrew ross sorkin in in too big to fail just has a kind of a great portrait of that management structure as one that is really challenged in seeing kind of the the writing on the wall which leads to a failure of imagination for example prominent economists like ben bernanke they insisted just before the two thousand eight economic collapse that it couldn't happen i think what's really interesting about that is it almost that insistence that something can't happen isn't happening it's not a political insistence and a lot of ways i mean there's a lot of resistance to some of the realities in the world you know we write about the lead poisoning in in flint michigan and there you had a woman leeann walters who complaining about the quality of her water trying to get it tested you know trying to get attention to it and was just being ignored over and over and over again and eventually she got people's attention who still kind of wanted to throw out that data because it was not convenient and and you know that's really that's really hard and and that can be really no pun intended it can be really toxic to sort of figuring out what what's really going on in our systems facing up to inconvenient data address here's the problem from my perspective i'm almost always right and the people around me are usually wrong now tell me what's wrong with that statement and how you might go about changing that yeah so i mean if you if you have self diagnose yourself with with that i think that's a that's a great first step to recovering from that end in fact we see that kind of attitude in in a lot of failures wetter better they are accidental failures like china or colombia or if we are looking at something like walks waggin diesel gates kendall sort of people believe that they are that they are ride.

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