From the Quotation of the day mailing list, 2008-01-11:
"Will housing sector problems push the economy into recession? It is too early to tell right now, but what we can do is to examine the current situation closely and try to learn from it. Perhaps 'relearn' is a better word, because the mistakes that brought us to this point have been made before. There are no new lessons here." -- William Poole, President, Federal Reserve Bank of St. Louis, in a speech delivered January 9, 2008.
[The submitter adds: it is refreshing, for a change, not to hear someone saying, "it's different this time!"]
(submitted to the mailing list by Duffy O'Craven)
[Yeah, it's old news by now. I'm stuck on "can't Americans learn from history?" thoughts. The obvious next question is, will the RepublicanTeaParty representatives elected to the next Congress remember the lessons re-learned a couple years ago?]
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