The film describes Charlie’s (ultimately successful) efforts in leading Congress to support Operation Cyclone, the largest-ever CIA covert operation, which supplied weapons to the Mujahideen during the Soviet war in Afghanistan. But the movie ends on a somber note, citing the U.S.’s premature exit in the epitaph to the film:
“These things happened. They were glorious and they changed the world ... and then we f----d up the endgame.” – Charlie Wilson(The result: the Mujahideen eventually flowered into the Taliban and backed Osama bin Laden's war against the U.S.)
Our situation is hopefully not as drastic, but the point remains: even if we feel we have survived the crisis -- and that unemployment and default rates are leveling off -- we still need to implement the necessary reform measures to avoid the creation of a different monster in future.
With this in mind, we’ve put out our first paper on rating agency reform. The piece ends:
“The ultimate objective of this reform is to encourage financial market transparency and responsibility, from which liquidity will inevitably follow.”Read it; criticize it; share your thoughts.