Alas for countless pundits and inspirational speakers, it is apparently not the case that the Chinese word for crisis is spelled by joining the characters for danger and opportunity. But that common fallacy nevertheless captures an important metaphorical truth: whatever the perils it brings with it, a crisis can be a grand opportunity. Among those who have understood that truth was Franklin D. Roosevelt.
Roosevelt pushed through policies that aimed not just to deal with the immediate challenge of the Great Depression but also to benefit generations of Americans to come. Pulling off a similar feat will require Obama to persuade Americans to see opportunities in the present crisis as well.
By creating the Federal Deposit Insurance Corporation (FDIC), the New Deal provided more confidence to bank depositors. With the Securities and Exchange Commission (SEC), it guaranteed more reliable information for investors.
clipped from: www.time.com 