Posted by Bill Taylor on October 9, 2008 9:52 AM People who read this also read: I'm not sure who said it first, but I agree with the sentiment: "A crisis is a terrible thing to waste." We're all struggling to make sense of the financial crisis that has spread around the world, to learn some lessons that will guide us as we go forward. One of my worries is that many of us will learn the wrong lessons--specifically, that we will become too conservative and risk-averse, that we will learn to fear creativity rather than embrace it. It's easy to portray the credit crunch as a case study of creativity run amok. Who's the genius that invented subprime loans? Weren't we all better off before the creation of a $500-trillion market in derivatives, hard-to-understand financial contracts that are at the root of so much of what's gone...
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