Except that there were lessons learned from Japan.
This bailout was, in large part, developed because of what was learned about what it took to end the Japanese crisis. On top of that, Bernanke specialized in the economics of the depression.
So I think that many lessons from the past have already been put into play here. But if there is anything I know, it is that Economics is a relatively young science. Even if all the lessons of the past are followed, this may be a new lesson to learn.
Based on what has been learned, the correct steps are being taken. Now it will take time to figure out if these are the right steps for this crisis.
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"The problem with any ideology is that it gives the answer before you look at the evidence."
—Bill Clinton
"The greatest obstacle to discovery is not ignorance--it is the illusion of knowledge."
—Daniel J. Boorstin, historian, former Librarian of Congress
"But the Senator, while insisting he was not intoxicated, could not explain his nudity"
—WKRP in Cincinatti
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