I've also been too cautious in the past few months as I've waited for the other side of the storm to arrive. I'm quite certain the imbalances are cumulative still; the longer we take drugs that mask symptoms rather than medicine that cures the disease, the more profoundly painful the eventual comeuppance will be.
[...]
At the end of the day, we must ask ourselves an honest question: If the capital markets need an IV drip from the government to stay afloat — or if the financial industry remains one FASB 187 accounting change away from technical insolvency — how will that dormant toxicity and ever-expanding largesse manifest as we edge ahead?
~ Todd Harrison,"Conventional Wisdom: Financial Crisis is Over," MarketWatch, December 1, 2010
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