Quote:
Originally Posted by Bobblehead
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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Say what... What I remember of the Japanese crisis was that the Japanese government was criticized for continuing to prop up bad banks, thereby delaying the restructuring that was required.