President Obama's top economic adviser said today that the economy would benefit from a little more greed, just not too much.
"In the past few years, we've seen too much greed and too little fear; too much spending and not enough saving; too much borrowing and not enough worrying. Today, however, our problem is exactly the opposite," National Economic Council Director Lawrence Summers said in a speech at the Brookings Institution, a Washington, D.C. think tank.
He said that in laying the groundwork for the next economic expansion, policymakers should aim to have conditions that are "fundamentally sound and not driven by financial excess."
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