Friday, July 16, 2010

If We Knew Then...

All the Woulda-Coulda-Shouldas
Layin' in the sun,
Talkin' bout the things
They woulda-coulda-shoulda done...
But those Woulda-Coulda-Shouldas
All ran away and hid
From one little did.
Shel Silverstein
Russ Roberts brings a poetic perspective to the post-rationalisations of financial regulators everywhere. I expect we'll hear a lot more woulda-coulda-shouldas from the various parties to Ireland's sovereignty-wrecking bank guarantee.

But all the hindsight in the world won't save us from that one way ticket to Palookaville...

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