A look at the past reminds us of how great is the distance, and how short, over which we have come. The past makes us ask what we have done with us. It makes us ask whether our very achievements are not ironical counterpoint and contrast to our fundamental failures. – Robert Penn Warren
Cause and effect, the riddle of all history, is a particular devil in financial history and never more so than today, where entire classes of security are collapsing not on public exchanges and stock-tickers but because there are no markets to establish prices this side of nothing. – James Buchan