The Conflict of Interest in Consumer Products

I was surprised to see that many people, you know, surprised because effectively the bar had been open for quite a long time with very cheap liquidity. And going back to the financial crisis, the entire period that followed was free booze for everyone. Some of us, some of us, I think had effectively lost sight that liquidity should have a price and credit has some value. The longer the happy hour, the harder the hangover.