But aren't you also struck by his naivete? His sincere belief that all these huge entities would protect the shareholders. The people in charge with performance

But aren't you also struck by his naivete? His sincere belief that all these huge entities would protect the shareholders. The people in charge with performance based compensation which at the same time has no downside from too much risk, would protect the shareholders? How was it not obvious to him, the chairman of the federal reserve, that this is guaranteed to go exactly as it has. He had a front row seat at the LTCM fiasco, and apparently didn't learn much from it.