Simon: I don't understand.Zoe: You've never heard of Reavers?Simon: Well, campfire stories of men gone savage on the edge of space, killing and—Zoe: They're not stories.Simon: What happens if they board us?Zoe: If they take the ship, they'll rape us to death, eat our flesh and sew our skins into their clothing. And if we're very very lucky, they'll do it in that order.Joss Whedon, Serenity
It looks like equities are getting set up for another 'big short.'
They do not allow most of the normal prohibitions of conscience or human empathy to give them pause. They tend to be verbally acute, emotionally shallow, and mildly delusional. They may dress well and have admirers amongst the media and the public.
On the positive side, they are not too lazy to steal. Madoff may have worked very hard, but at the end of the day he was just a gangster. Most are just sociopaths who have chosen to hold a pen instead of a gun.
And it is not just Wall Street. People are great imitators, And when illicit behaviour and monopoly business tactics become tolerated they can soon enough become commonplace. The corruption and lack of moral principle and judicious moderation in Big Pharma and other 'service sectors' are appallingly fashionable.