The Importance of Perception in a Zero Interest Rate Environment

The Wall Street banks that caused the 2008 financial crisis, and they absolutely did with their behavior, have learned their lesson. The smarter people on Wall Street and in alternative asset management businesses like Blackstone and Apollo seem to have figured it out sufficiently so that we're not worried about them at the moment. "I just don't see how you can be a highly compensated steward of a financial institution and fail to properly perceive the risks," says Peter Handy.