My biggest concern about 2007 collapse is that we DID NOT reform financial system after the collapse. Everything remains the same. The banks still operate in same way as before 2007.

And everybody should be careful to bet on recovery: we have a financial system which relies on public funds to be viable. We did not envolve.

We should do two things:

- allow failed banks to fail (ok maybe some gov oversight but essentially they should be broken up and sold in pieces)

- the regulatory system must be reformed (reform credit rating agencies, etc.)