Prices were distorted at each step of the way, from harassed S&Ls forced to make loans against their own better judgment, to Fannie's and Freddie's absurd guarantees, to flawed investment-bank computer models assessing risk and yield.
Griffin's poorly timed optimism illustrates a fundamental industry flaw: investment advisers, fund managers and investment product vendors all focus on planning for success.
The program "was fundamentally flawed from the beginning, because investment banks could opt in or out of supervision voluntarily.
The lawyer argued that the process used by directors to set up a $6.6 billion sale to an investment group was flawed.
But some critics say that the investment strategy is flawed, noting that the teachers' fund wound up with one of the highest levels of risk of any state fund tracked by Wilshire Associates, the investment advisory firm.
Failing to invest in replication means that too often we will instead invest in novel studies resting on flawed foundations, and that is clearly a poor investment.
One of America's most popular investments, the mutual fund, is inherently flawed.
To say that he is morally flawed would be an understatement, and therefore our investment in him is morally flawed, too.
Eventually, these actors resist policy change, even with flawed or inefficient policies, because of the learning investment placed in the current design and prospect of a similar type of investment any new design would necessitate [ 21, 26, 31].
