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Quoting the Crisis
24/01/2012
“ There’s a paradox to economic policy. The more it succeeds at prolonging short-term prosperity, the more it inspires long-run destabilizing behavior by businesses, banks, consumers, investors and government. If they think basic stability is assured, they will assume greater risks — loosen credit standards, borrow more, engage in more speculation, relax wage and price behavior — that ultimately make the economy less stable. Long booms threaten deep busts. „
(
Source:
Robert J. Samuelson in Why the Federal Reserve slept before the housing crisis - The Washington Post
)
