Nothing like this has ever happened before. There have been credit crunches and housing crises and dollar crises, but having all the chickens coming home to roost at the same time and interacting with one another is unique. We have historical perspective on the parts, but not the whole, and that makes things both interesting and scary.
~ Peter Bernstein, author of risk management classic, Against the Gods, "Retirement: Safety First," Barron's, September 15, 2008
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