The signs pointing towards “risk-free” land are still there; and to some they still mean exactly the same.

Sir Tony Jackson admonishes us “Don’t believe bubbles have been scientifically abolished” August 10. Of course not! How can we be that stupid? Especially since all those risk-free AAA signs that led so many over the cliff are still there and taken to mean exactly the same as before, at least by the regulators.

But when Jackson suggests that “the aim should not be to prevent [the next crisis] but to contain its effect next time around, may I humbly add... and what about giving a little more purpose to the boom?