It’s easier, though, if we only pillory Armstrong. The media creates legends, and we witness gleefully the almost inevitable downfall of these flawed humans. We gloat we are better than our media creations. We ought to realize that our socioeconomy is a glass house that is much more fragile than we like to believe. Meanwhile, if we simply demonize Armstrong, we can keep our hands clean, our heads in the sand and avoid true reform.
Colin Read contributes to Bloomberg.com, has published eight books with MacMillan Palgrave, and chairs the Department of Finance and Economics at SUNY Plattsburgh. Follow him on Twitter @ColinRead2040.