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Washington Post (March 16)

2011/ 03/ 16 by jd in Global News

“At long last, humankind had triumphed over risk.” Overconfidence has led to recent disaster in the financial system and deep water drilling. “Today, the quake, tsunami and, most particularly, the potential of a nuclear catastrophe in Japan should weaken at least one of our own deeply rooted faiths – in our own infallibility.” In the U.S., many have pushed for less government, fewer rules, fewer inspections and less regulation. “Japan, one hopes, should bring an end to such nonsense…. We haven’t defeated risk…. We need some rules, some regs, and a government willing to devise and enforce them.”

“At long last, humankind had triumphed over risk.” Overconfidence has led to recent disaster in the financial system and deep water drilling. “Today, the quake, tsunami and, most particularly, the potential of a nuclear catastrophe in Japan should weaken at least one of our own deeply rooted faiths – in our own infallibility.” In the U.S., many have pushed for less government, fewer rules, fewer inspections and less regulation. “Japan, one hopes, should bring an end to such nonsense…. We haven’t defeated risk…. We need some rules, some regs, and a government willing to devise and enforce them.”

 

Financial Times (March 15)

2011/ 03/ 16 by jd in Global News

Can anything good come of Japan’s disaster? Martin Wolf dismisses fears that rebuilding will financially strap the government of Japan. In fact, the rebuilding effort may provide the focus to jumpstart a country that’s been floundering for decades. “It is in adversity that a country shows its mettle. The Japanese will surely do just that, on this occasion. It is for the leaders to match the mettle of the people. If they are able to do so, out of a great disaster may yet come a rebirth.”

 

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