The World According to Carly Fiorina
L.G.: OK, good. So let me ask: Who and/or what is to blame for the souring economy, the bear market and $140-plus oil—the folks in charge?
C.F.: Well, I don’t think any president is responsible for any one of those things, and that’s not a partisan comment — just like I don’t think we can blame Bill Clinton for the tech boom and bust. So I don’t think you can blame George Bush for the credit boom and bust. But I think what we’re seeing right now is very similar to what we saw in the tech boom and bust. We saw a whole set of financial instruments and financial institutions rush into the real estate market with a new and innovative set of credit instruments, and those credit instruments drove a huge upswing in growth in that part of the market. But they were also poorly understood, they weren’t particularly transparent, people began to forget about risk, and the boom cycle inevitably became a bust.
I love listening to smart people talking. Read the full interview here.
Neowster is short for Noel's & Esther's Own World. This is a personal hobbyist site, maintained mainly for the purpose of honing my knowledge in WordPress, and sharing useful information or knowledge to make someone's life easier. To a smaller extend, I hope to propagate the ideology of Crowdsourcing, as I see it as the best mechanism in regulating our unregulated capitalistic world, overcoming humanity's trait of greed, self interest, and fear, in arriving at the best decision. 
