Politically speaking, it's always easier to shell out money for a disaster that has already happened, with clearly identifiable victims, than to invest money in protecting against something that may or may not happen in the future.
James SurowieckiOn Wall Street, fraudulent schemes tend to thrive during economic booms, and to blow up when times turn tough.
James SurowieckiA long-term crisis, after a certain point, no longer seems like a crisis. It seems like the way things are.
James Surowiecki