Image via WikipediaMore broadly, he says he is both optimistic and pessimistic that, post credit crisis, the financial markets can be put on a path to sustainable growth: "I do listen to, and sometimes agree with those people that say they are optimistic because human nature has boundless ability to deal with things. But I think people are underestimating the new reality of a tightly coupled financial world in which we've dialed in a propensity for financial accidents. The global financial crisis is not properly finished: it's just morphing into something else. We've dealt with the symptoms but not many of the causes."
