Anyone who's been reading Morning Fog for a while has probably heard me complain more than once about the national (U.S.) tendency to take the short view. Whether it's ending a war, looking to improvements in the economy, or just buying blinds for our home's windows, everybody seems to look for the immediate results, long term consequences be damned.
Thus, I commend Sheila Bair's well-argued piece from today's Washington Post regarding the effects this approach has had in our financial markets. As I've said myself, we're not even out of the woods from having lost our way last time, yet many of those high-salaried financial wizards and certain of our political leaders are tossing away the map and eager to lead us down the wrong path again.
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