In a recent post, investment advisor Tony Sagami recalled a conversation he had with one of the top mutual fund managers in the country. In the conversation, he asked:
"How much of your own money do you have invested in your fund?"
With a few too many beers, he replied, "Hardly any! You think I'm stupid?"
That second quote serves as one of the most exemplary reasons why we're in the screw-up, and serves as a microcosm as to what counter-measures need to be applied to prevent future abuse.