What struck me at Davos this year, was that everyone was looking for `the guy’, the guy who would be able to tell us what this crisis is all about, how do we get out of it and what exactly we should do with our money. It was really scary because there is no guy. Everyone is hoping Obama will turn out to be that guy. I am hoping that too. I do think our solution is to get back to the basics. We have to get back to building an economy the old-fashioned way, by making products people really want and not try to make money from money. There’s a parallel here, with the climate system. Like the climate system, you have to combine two things that are hard to combine in your head – humility and certainty. The climate system has enormous natural variability and you have to be very humble about that but you can be certain about one thing: the more CO2 you put into the atmosphere, the greenhouse gas blanket around the earth will get thicker, temperatures will rise, ice will melt, sea levels will rise and there will be enormous weather implications. It’s the same with the economy: you give a $750,000 ????million mortgage to an immigrant who has no passport and no ability to pay and bad things will happen. Big institutions are gone -- Bank of America, Citibank have been devastated, Lehman Brothers has gone. It’s like a war and they have been devastated. Someone will have to reinvent them.

... contd.