"Clearly, Greenspan’s error was not only and not simply one of overestimating the rationality of market agents - that is, their ability to resist the temptation of making wild speculative gains. What he forgot to include in the equation was the financial speculators’ quite rational expectation that the risks would be worth taking, since, in the event of a financial collapse, they could count on the state to cover their losses.” (p. 30)"
Slavoj Žižek: “First as tragedy, then as farce” (Verso, 2009)
