[I see many parallels and lessons that can be applied to IT Crisis Response]
The Bank of International Settlements (BIS) recently released an excellent paper comparing the current crisis to the Nordic crisis. This is a particularly interesting case study because the Nordic credit crisis was relatively clean for a credit crisis. Perhaps most interesting is the fact that their crisis was unfolding at the same time as the Japanese crisis. I believe the thoughts from the BIS are particularly interesting as I was a proponent of the harsher Swedish Model – a bit more of an Austrian economics approach to the crisis as opposed to the Japanese model of trying to ensure capitalism without losers. Our analysis indicates that current policies have followed those (Nordic) principles in some respects, but have fallen short in other, arguably more important, ones.