Wall Street bosses who believed that the huge profits of their firms prior to the financial crisis that started in 2007 was their personal accomplishment and that the financial crisis was due to overregulation by government illustrates the

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The self-serving bias is a cognitive bias that leads individuals to attribute their successes to internal or personal factors while attributing failures to external or situational factors. In this scenario, Wall Street bosses attributing their firms' huge profits to their personal accomplishments and blaming the financial crisis on overregulation by the government is an example of self-serving bias. They are taking credit for the positive outcomes while deflecting blame for the negative outcomes.

Wall Street Bosses Who Believed That the Huge Profits of Their