There have been at least seven crisis since we began in the business in 1984: '87 crash, '90 Japan bubble, '94 Asian Crisis, '97 Russia and LTCM, '00 Tech bubble, '01 9/11, '07 Credit. I wonder why all the bears think that it is different this time. Why is it different: not just Wall Street, not just financial markets, and leadership is not as good.
I do not think that it is different this time. Leadership often only tends to look go in hindsight.
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