Friday, November 28, 2008

An ounce of prevention in finance

Link above goes to: The New York Times

Quote from the source:
Op-Ed Columnist
Lest We Forget
By PAUL KRUGMAN
Published: November 28, 2008
The story of how we failed to see this coming has a clear policy implication — that financial market reform should be pressed quickly, and that it should not wait until the crisis is resolved.


Yeah, if the best reforms are ever to be done, they have to be done while things are painful, and the realization is clear as a result that they are needed.

Past history guides us to the conclusion that whatever reforms are done now, in time, there will be calls to remove them and de-regulate.

So, if not now for the clearly needed reforms, when?

Giving the remarkable conclusion that as we fix the current financial crisis, we must also work to prevent the next one.
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