And what should he have known? Well, who could answer that? Thought he was closer to all the players than anyone, he still couldn't identify who was responsible and who wasn't. Really responsible, not just "look the other way" responsible. They all were, in some larger sense. And yet, while he knew this was a wholly indefensible position, he felt that somehow none of them were, either. Just like the guys at Lehmen, or Bear Stearns, or AIG. Just like the guys at Delphic. It became a game, a contest; the only rules that governed were what made you money and what didn't. All Paul did was hang the hell on and try not to get thrown.

Author: Cristina Alger