“The leaders coming out of a crisis are rarely the same as those that entered it and the ability to add capacity into a downturn will define the winners on the other side. We must reward those who saved, incentivize those who are motivated and punish those who’ve transgressed. Until there is culpability for wayward decisions, there won’t be motivation to change behavior and rebuild society from the inside out.
Therein lies the rub of our current course; innovation and entrepreneurialism are integral parts of the solution but many of those in a position to effect positive change don’t have access to capital. While credit worthy borrowers may be a rare breed—and lowering those standards were the root of the problem—the obligations of many have muted the aspirations of most.”
Also from the same post:
“I’ve repeatedly offered that the financial crisis hasn’t disappeared; it simply changed shape. It–for lack of a better analogy–has gone airborne, migrating from the tangible to the amorphous, from Wall Street to Main Street, from a distant coexistence to an emerging class war. It, like most viruses, will arrive in waves and infect those who haven’t been inoculated with a steady stream of financial consciousness.”
Read the rest of this most excellent post by Todd Harrison HERE