Believe Quote by Robert J. Shiller
“As I write in 2012 we certainly do not believe that it is over yet, and the worst may be yet to come. Efforts by governments to solve the underlying problems responsible for the crisis have still not gotten very far, and the 'stress tests' that governments have used to encourage optimism about our financial institutions were of questionable thoroughness.”
About This Quote
Source Book: Narrative Economics, 2019
Economic crises may persist; policy responses have been insufficient and stress tests unreliable.
In simple terms: Financial problems may continue despite efforts.
Key Takeaway
Demand stronger oversight and transparency.
Themes
economics
crisis
policy
risk management
Mood
cautious
analytical
Type
economic
warning
When to use this quote
- bank regulation
- investment strategy
- public policy
Key Concepts
Systemic risk
government intervention
financial stability
Questions to Reflect On
- What reforms could improve financial stability?
- How can we better assess systemic risk?
A Different Perspective
Stress tests can give false confidence.
