OP-ED: Paulson's Moment Of Truth, By Sebastian Mallaby, Washington Post, September 16, 2008; Page A21

Great piece by Mallaby (whom I've admired and cited) re: the Lehman non-bailout.

The right lessons (or new rules) delivered at the right time can make our evolution from sole trusted financial backer of globalization's advance to one of several far less tumultuous.

This journey is both necessary and good. Globalization has grown too successful to be limited to just our financial say-so. Our progeny must continue to evolve beyond our control--for its own potential to be realized and our own financial discipline to be found..

(Thanks: Jarrod Myrick)