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Gordon Bethune, the former CEO of Continental Airlines, famously said of the airline industry, "you're only as smart as your dumbest competitor."  The point being, any airline - no matter how well run - can be completely undermined by a competitor dedicated to increasing market share at the cost of profitability.

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Thomas Sowell, who has a degree from Harvard in economics, said the best thing about having a Harvard degree was 'never again having to be impressed by someone with a degree from Harvard."  In this article, Sowell's opinion of Harvard graduates will be extended to Harvard faculty in the person of Lawrence H. Summers. 

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In his post-crisis memoir, The Courage to Act, Ben Bernanke recalls 'seething' in anger at AIG;

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On February 20, 2004 Ben Bernanke gave one of the most remarkable speeches of his lengthy Fed career; he served at the Fed from 2002-2005 and 2006-2014.  He claimed "improvements in monetary policy, though certainly not the only factor, have probably been an important source of the Great Moderation."  (1)  The Great Moderation was a term economists and central bankers came up with to e

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