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Jennifer Martin's Blog: Larry Summers Remarks at the Brookings Institution

Among many other good observations, Larry Summers , Director of the National Economic Council, today stressed to everyone in his speech "Responding to an Historic Economic Crisis: The Obama Program" that there is one thing that is known about every financial crisis: "They all end." Seems like simple advice, but with the markets fluctuating so greatly and people being so worried about the economy, a bit of simple advice is well placed. 'No one can know' when the crisis will end, but it will. Summers believes that fear in the market places has created unhealthy, untrusting cycles based on a lack of confidence. Here is the link to the Bloomberg.com video: http://www.bloomberg.com/news/av/

The text of Summer's speech can be found here.

Full post as published by University of Louisville Law Faculty on March 13, 2009 (boomark / email).