With uncertainty in oil markets, a buildup of speculative pressures and the large U.S. current account deficit, there is a real possibility that Paulson's crisis-management skills will be tested.
Lawrence SummersBlaming speculators as a response to financial crisis goes back at least to the Greeks. It's almost always the wrong response.
Lawrence SummersTakeovers wouldn't cause the stock market to rise unless there is an upward reassessment of earnings (potential). People are more optimistic and confident about the future.
Lawrence SummersContagion has become very much a phenomenon, and it's a phenomenon of globalization.
Lawrence SummersWhen I look out the window at my backyard, I can't think of anything interesting to ask. I mean, it's green, it's growing-but nothing occurs to me that any concentrated effort of thought could possibly enlighten. Whereas in economic, statistical, or mathematical kinds of things, I can think lots of questions.
Lawrence Summers