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Detailed text transcripts for TV channel - MSNBC - 20110924:11:43:00

the real insight for the book for me was the incredible risk inversion, the repeating of the mantra, first, do no harm. you see that in national security and you also see that here as well. no president wants to be responsible for a renewed crisis. you listen to the people who sound serious, who kind of know the discipline, who know the sector well. those people are going to be inclined to share certain opinions. one has a lot of sympathy for the guy who in some ways. the guy meaning the president? like any president would feel overmatched given those circumstances and you are kind of going to tread very lightly. a lot of hindsight bias. everybody will say, of course, you should have done it this way. you are going to tread very lightly throughout the process. you are going to trust the people who have been your donors, the experts, self appointed and otherwise. you have to remember, things were actually going very well until april. we had a recovery until the greek debt crisis ....

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