tag:blogger.com,1999:blog-8078379512095504946.post2565946452875695560..comments2024-03-29T01:07:30.224-07:00Comments on Had Enough Therapy?: Too Much of a Good ThingStuart Schneidermanhttp://www.blogger.com/profile/12784043736879991769noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-8078379512095504946.post-19618507656892478182011-07-19T09:12:05.141-07:002011-07-19T09:12:05.141-07:00Excellent point. David... it's amazing how peo...Excellent point. David... it's amazing how people who are not only brilliant but who are working with numbers... which are supposedly more reliable than opinions or ideas... can pretend that their analysis is anything more than glorified opinion.<br /><br />I agree with you entirely on the tyranny of experts... isn't it the opposite of the free market.Stuart Schneidermanhttps://www.blogger.com/profile/12784043736879991769noreply@blogger.comtag:blogger.com,1999:blog-8078379512095504946.post-74510304101510900202011-07-19T09:01:21.525-07:002011-07-19T09:01:21.525-07:00"Why did we flood the nation’s financial syst..."Why did we flood the nation’s financial system with bad mortgages? In Sowell’s analysis, we as a society decided that home ownership was a Good Thing."<br /><br />That was certainly part of it. Another part was that simplistic but impressive-looking mathematical models were used to assess the risk of mortgage pools, creating a false sense of confidence. Basically, PhDs with IQs of 145 and MBAs with IQs of 130 made lending decisions that an old-line banker with an IQ of 110 would have almost surely known to avoid.<br /><br />False/exaggerated assertions of expertise are one of the major plagues of our society.David Fosterhttps://www.blogger.com/profile/15464681514800720063noreply@blogger.com