When an organization's leaders and members allow themselves to be captured by their own beliefs, they see only what they want to see. Many feel that groupthink explains the excessive credit expansion that fueled the subprime mortgage meltdown and subsequent financial crisis.
1. How were the elements of groupthink illustrated in the financial crisis?
2. What could be done to reduce the effects of groupthink in the future?
3. Do you think that increasing the diversity of the financial companies' leadership would reduce groupthink? Why or why not?