But in hindsight, I have to admit that they are only part of more comprehensive strategies for dealing with a fullblown financial crisis like the one we are witnessing. We need to ask ourselves why such comprehensive policies were not implemented in a timely manner.
Financial crises: similarities between Japan and the US With these things in mind, I would next like to point out remarkable similarities between Japan’s crisis experience from the 1990s to early this century and what the US has undergone in the past several years. These commonalities fall into five categories.