5 inescapable truths about financial disasters

Striking differences in man-made vs. natural catastrophes

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"Since financial disasters are entirely man-made, in principle they should be easier for governments to deal with than natural disasters, which cannot be controlled. Do you agree?"

I don’t. Financial disasters are less predictable than natural disasters.

Those who expose the financial system to major risks can often shift their own risks to others; the depth and breadth of a financial disaster can be expanded by contagion; and it may be impossible to protect innocents from becoming victims of a financial disaster without helping the malefactors who caused the problem.