tag:blogger.com,1999:blog-5404820640426099135.post8064010286883027498..comments2023-10-31T00:46:35.316+13:00Comments on Anti-Dismal: John Taylor on the financial crisisPaul Walkerhttp://www.blogger.com/profile/13731003529546075700noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-5404820640426099135.post-57528424909175102002009-02-11T12:52:00.000+13:002009-02-11T12:52:00.000+13:00While I would love to blame the government for it,...While I would love to blame the government for it, I am not (yet) convinced. Certainly government has contributed but I would question the magnitude of that contribution.<BR/><BR/>I would suggest the two biggest factors fall into the category of market failure and are:<BR/><BR/>1. Shareholders failing to act in their own best interests by properly supervising what directors were doing.<BR/><BR/>2. The total cost of business failure is the direct loss to the business plus the contribution of the failure to overall loss of confidence. Only the former is internalized and taken into account in decision making.Nigel Kearneyhttps://www.blogger.com/profile/04810873665345046994noreply@blogger.com