Financial Balance of Terror

Financial Balance of Terror

Sometimes you wonder if Larry Summers is reading the blogs. The catch phrase Financial Balance of Terror has been coined by none other than 1990's Financial Terror Architect, Obama economic adviser Larry Summers!

President Barack Obama and fellow Group of 20 leaders are trying to end what Obama adviser Lawrence Summers has called the “financial balance of terror.”

World leaders, meeting in Pittsburgh last week, adopted a framework for more durable economic growth as they sought to prevent a replay of the worst crisis since the Great Depression. They also acknowledged the growing clout of China and other emerging economies by giving them a bigger voice in decision- making.