Economic Crisis Q And A

As we weave our way through the near economic collapse and subsequent deep recession, economists will capture some people's imagination with books answering the question, why.

McClatchy has organized a Q and A session with two top economists. Its interesting reading.

McClatchy: Authors: U.S. economic crisis was long time in the making

Q: Should regulatory reform efforts seek to prevent future crises?

A: Rogoff: "You don't want to prevent every financial crisis . . . You don't want to have no creativity, no dynamism in the financial sector. There's a balance. But there's no question things got way out of kilter. And there are hard quantitative measures where you can look at this. I think the official community — the regulators — and even politicians need to look at them and not ignore them as they did."