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the problems of getting us out of a situation of this kind
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are in many ways the opposite of the problems
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of preventing future financial crises.
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It will be tempting, but would be unfortunate,
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to address the concerns through whatever officials do
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when they're not sure what to do, which is reorganize.
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Our central challenges involve the questions of
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how we define capital,
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how we regulate capital, for whom we regulate capital,
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how we avoid pro-cyclicality.
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Until we know the answers to those questions,
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it will be difficult to think intelligently about