Decisions and Consequences: The Dilemma of Present Choices

This chapter examines the catastrophic consequences of reckless lending practices during the Washington Mutual Bank collapse and the broader 2008 financial crisis. It explores the psychological concept of temporal discounting, where individuals favor immediate rewards over long-term benefits, leading to poor decision-making. Through personal anecdotes, the discussion underscores the importance of considering future repercussions in our daily choices and highlights the human tendency to underestimate how much we will change over time.