Glengarry Glen Ross

To understand the environment in New York that caused the subprime disaster, rent the movie Glengarry Glen Ross, starring Jack Lemmon, Kevin Spacy, etc., a 1992 movie.

When one's job is to sell, sell, sell, and your/family's survival is on the line, you sell, sell, sell. The product is immaterial. The interest of the buyer is immaterial. You screw your co-workers, your superiors, etc.

Also, as readers of this Blog know, the concept is best discussed by Michael Lewis in Liar's Poker, and if you click on this Label (Liar's Poker) you will see the key quote quoted multiple times.

Also Richard Cudahy, the judge, hits on it from an administrative point of view in the electric utility field. Again, click on that Label (Judge Cudahy).