There Is A Basic Lesson On Financial

Never Before In Modern Times Has So Much Of The World Been Simultaneously Hit By A Confluence Of Economic And Financial Turmoil Such As We Are Now Living Through.

Most Consequential Choices Involve Shades Of Gray, And Some Fog Is Often Useful In Getting Things Done

The World Is Likely To View Any Temporary Extension Of The Income Tax Cuts For The Top Two Percent As A Prelude To A Long-term Or Permanent Extension, And That Would Hurt Economic Recovery As Well By Undermining Confidence That We're Prepared To Make A Commitment Today To Bring Down Our Future Deficits.

We Have Parts Of Our System Which Are Overwhelmed By Regulation. It Wasn't The Absence Of Regulation That Was The Problem. It Was Despite The Presence Of Regulation You Got Huge Risks Built Up.

There Is A Basic Lesson On Financial Crises That Governments Tend To Wait Too Long, Underestimate The Risks, Want To Do Too Little. And It Ultimately Gets Away From Them, And They End Up Spending More Money, Causing Much More Damage To The Economy.