ABSTRACT
Many causes of the ‡nancial crisis have been suggested and numerous proposals to prevent future crises have been discussed. However, no amount of monitoring of economic and ‡nancial indicators would have enabled any regulator to keep under control the human behavior that led to excessive risk taking by ‡nancial institutions. What drove these banks to excessive risk taking? We all know that it was the greed of individuals to earn more and more cash.
