Paraphrasing David Hannum (not PT Barnum) there’s a fool born every minute and recent happenings seem to bear that out—only most of the current fools have MBA’s and high level jobs.

And then there are the fools in Washington who for years have told us to trust industry and that self-regulation works to our advantage.

And all of us fools who either believed them or were asleep at the wheel.

So in honor of April Fool’s Day here’s a great explanation of the subprime mess that doesn’t require an advanced degree.

It also proves that Hannum was right.

My thanks to Nick Mikhailovsky at NTR Lab for sending it to me.

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This entry was posted on Tuesday, April 1st, 2008 at 12:15 am and is filed under About Leadership, Communication, Leadership Turn Odd Bits, Leading Factors, What Leaders DON'T. You can follow any responses to this entry through the RSS 2.0 feed.
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