• If, in the last few years, we’ve seen too much greed and too little fear, too much spending and not enough saving, too much borrowing and not enough worrying, today our problem is very different. It is this transition from an excess of greed to an excess of fear that President Roosevelt had in mind.
• Lawrence Summers • President Barack Obama’s top economic adviser, on the economic struggles the country is facing, harkening back to President Franklin Roosevelt’s “We have nothing to fear but fear itself” line. His words also appeared to be critical of investors whose caution is stagnating the market even as consumer spending improves. • source

Posted by Ernie Smith • Permalink