Only after I struggled with concepts of the publishing industry as an "informed crapshoot" (as one executive put it) and accepted--with a struggle and some gnashing of teeth--the idea that "Even if they (the publishers) could develop extraordinary competence in finding gold in the ‘slush pile' of hundreds of pieces of unsolicited material received each week, the dividends would be limited," did I turn to Greenspan's article in the WSJ which was about how otherwise ordinarily sensible folks can get lured into financial debacles.

Of course I saw a connection. Read More