One of the amazing things I've run across in the research and promotion of "Crazyman's Economics" is that people who brag about how much money they've made in the markets don't care about those who lose money.

They claim it's their fault they lost their money. They didn't do the proper research, they trusted the wrong people. Look at the report Wall Street put out earlier this week. They said it was human nature that caused investors to be too greedy when things were going well and panic too soon when things got shaky. (Translation: It's not our fault, it was the investors' fault.)

In fact, we've asked dozens of people who made money one question: "Where did your money come from?" Almost every single one of them, from guys in the coffee shop in Veedersburg, IN to afternoon host Tracy Jones on 700 WLW in Cincinnati say the same thing..."I don't care." 

According to the New York Times, a group of Wall Street executives have released a report detailing what went wrong and steps they can take to prevent it from hapening again. OK, quit laughing.

According to the article: 

"Wall Street failed to anticipate how wide-reaching problems with mortgage bonds would spread into seemingly distant corners of the financial markets, the report said. Awash in easy money, banks doled out credit without sufficiently charging for the risk. Wall Street also created complex structures that masked connections between asset classes as well as compensation incentives that pushed traders to take risky steps for short-term gain. The industry’s failings have now translated into pain for the broader economy, the report said."

Ya’ think?