Lucky for Ryan that was the very first time he’s ever been out with “friends” who were
plying him withbuying expensive wine that could trigger an ethics violation. He should have sent over a bottle to the nice lady that saved his a$$.
It was not as simple as helping out “neighbor” homeowners with their mortgage to indirectly benefit themselves by keeping their property values high. Home prices were bloated to double or more of their reasonable value in a short period of time by the excesses of the housing BOOM. The securitization of home loans encouraged loan originators to make high-risk loans because to collect big upfront fees without any default risk, passed on to investors who are fooled by the rating agencies, who were fooled by the Goldman Sachs and their cohorts. Compare the rise in average income (essentially flat) to the rise in home prices (to the moon Alice). Attempts to prop up prices would have been at best a short-term illusion that would be DOOMed to fail. The govt should have tried to recoup ill-gotten funds from the perpetrators. Their ignorance of what they were doing to the economy, blinded by their own self interests, should be no excuse. Onetermer failed by not holding anyone accountable and then fixing the system.
It is taught in many business schools that a manager does not need to be expert in what the company does since their job is to manage people. This works(?) for The Office when selling paper, less well when selling widgets, and not at all when dealing with technical activities, such as the NASA example. In most companies, it is the managers that make the final decisions (because they think thats their job, theyre the boss after all), even on technical problems about which they have at best, buzzword knowledge. What could go wrong with a country full of deciders?