Plenty of people tried to blow the whistle. The SEC and Fed were warned but were unable to comprehend the overarching microeconomic problems brewing within eac

Plenty of people tried to blow the whistle. The SEC and Fed were warned but were unable to comprehend the overarching microeconomic problems brewing within each firm. And that doesn't change the overarching problem of defining the right thing at every level. Was AIG acting unethically by failing to properly assess the risk of their CDSs? Or were they just incompetent?