Back then governments were paralysed from taking adequate action till the moment of acute disaster by afailure of imagination - they didn't really know what to do - which was combined with a belief that to bail out the banks would be to reward recklessness and greed.
You know, we really strategized, and I think it was a very healthy way to at least acknowledge that the possibility of failure is always - it's out there every second, looming.
He was still reeling from the failure of JoinStart, and wondered whether he really had any interest in building simple web products without a bigger goal.