The financial markets are schizophrenic in that the process of defining the capital a bank must hold against potential large losses mostly involve looking back into past calamities.   Like driving a truck by only using the rear view mirror.  When it comes to avoiding the next bubbles bankers, politicians and journalists get outside of the thinking and the insider framework that has served them well in the past.  The podcast explains how hard it is to look around the corner into the future.