Tornado Alley (PROG)

[wbmw]

wbmw....and, this is not intended to be glib....if the experts were truly experts...why are we in this mess?

My personal opinion: when things are going well enough that everyone is making money, few people want to ruin a good thing by asking whether it is sustainable or not. Even smart people succumb to this.

And besides, I think there were whistleblowers, but did anyone listen? Not enough, it seems. Doesn't mean that smart people can't come forward and make an accurate assessment in hindsight, though.

why can't they extricate us from the crisis?

That's what many people are working towards, but it won't happen overnight. The deterioration of the banking system happened in the background over the last couple of decades while the regulations were being stripped, and more banks entered into trading complex derivatives. There was so much money tied up, that it will take years to unwind the damage.

Fortunately, we are no longer falling down the hole. Job losses are slowing down to a net zero. However, it could take years to dig ourselves out.