Equity markets in the long run reward smart risk and punish reckless risk, just as commercial markets reward desirable consumer offerings and reject cynical ones.
But those of us with longish memories wonder if we are not just seeing a repeat of the rather amateurish and reckless lending practices that characterized the Japanese banks in the U.S. in the 1980s and 1990s.
Anthony entered the league at 19, after just one season at Syracuse University, and there were the predictable reckless episodes, but there's now a new equilibrium.
But two years ago, we talked about some on Wall Street who were taking reckless risks and cutting corners to turn huge profits while working Americans were fighting harder and harder just to stay afloat.