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inappropriate risks, like the former

chief executive of Citigroup, Chuck

Prince, a former lawyer who made

risky loans into a falling market because,

he said, “as long as the music is

playing, you’ve got to get up and

dance.”

“People who are initially cautious become

more aggressive,” observes

Boykin Curry of this phenomenon.

“They say, ‘Hey, the more aggressive

people are getting promoted and I’m

not, so I’m going to be more aggressive

too.’ ”

501/929

But stories of financial crises often contain

subplots about people who famously

(and profitably) saw them coming—and

such tales tend to feature just

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