John Micklethwait, Editor-in-Chief, The Economist, speaks during the "Financial Recovery: When and How?" panel at the 2009 Milken Institute Global Conference in Beverly Hills, California April 27, 2009.

Getty Images 12 months ago

ISRAEL - DECEMBER 9: Israeli Prime Minister Ehud Olmert reads The Economist magazine during an Israeli Air Force helicopter trip to inspect a reinforced school December 9, 2008 in Sderot, southern Israel.

Latvia's Prime Minister Valdis Domrovskis (L), member of the European Parliament Ivars Godmanis, Estonia's central bank deputy governor Marten Ross, Central and Eastern Europe correspondent for The Economist, Edward Lucas and Vjaceslavs Dombrovskis from the Baltic International Centre f...

Lawrence H. Summers, Director of the White House's National Economic Council, speaks about the economic outlook and the financial sector at a luncheon hosted by "The Economist" magazine at Pace University in New York October 16, 2009.

Roger Altman, Chairman and Chief Executive Officer of Evercore Partners, speaks about potential geopolitical implications of the financial crisis at a panel discussion hosted by "The Economist" magazine at Pace University in New York October 16, 2009.

Jeremy Grantham, Co-founder and Chief Investment Strategist of GMO, speaks during an Oxford-style debate on financial innovation hosted by "The Economist" magazine at Pace University in New York October 16, 2009. Grantham was speaking against contemporary financial innovations.

Jeremy Grantham, Co-founder and Chief Investment Strategist of GMO, takes notes during an Oxford-style debate on financial innovation hosted by "The Economist" magazine at Pace University in New York October 16, 2009. Grantham was speaking against contemporary financial innovations.

Robert L. Reynolds, President and Chief Executive Officer of Putnam Investments, speaks during an Oxford-style debate on financial innovation hosted by "The Economist" magazine at Pace University in New York October 16, 2009.

Professor Jeffrey D. Sachs of Columbia University speaks about potential geopolitical implications of the financial crisis at a panel discussion hosted by "The Economist" magazine at Pace University in New York October 16, 2009.

Prof. Myron S. Scholes, Chairman of Platinum Grove Asset Management, speaks during an Oxford-style debate on financial innovation hosted by "The Economist" magazine at Pace University in New York October 16, 2009.

Prof. Myron S. Scholes, Chairman of Platinum Grove Asset Management, speaks during an Oxford-style debate on financial innovation hosted by "The Economist" magazine at Pace University in New York October 16, 2009.

Prof. Myron S. Scholes, Chairman of Platinum Grove Asset Management, speaks during an Oxford-style debate on financial innovation hosted by "The Economist" magazine at Pace University in New York October 16, 2009.

Lawrence H. Summers, Director of the White House's National Economic Council, speaks about the economic outlook and the financial sector at a luncheon hosted by "The Economist" magazine at Pace University in New York October 16, 2009.

Lawrence H. Summers, Director of the White House's National Economic Council, speaks about the economic outlook and the financial sector at a luncheon hosted by "The Economist" magazine at Pace University in New York October 16, 2009.

Lawrence H. Summers, Director of the White House's National Economic Council, speaks about the economic outlook and the financial sector at a luncheon hosted by "The Economist" magazine at Pace University in New York October 16, 2009.

Lawrence H. Summers, Director of the White House's National Economic Council, speaks about the economic outlook and the financial sector at a luncheon hosted by "The Economist" magazine at Pace University in New York October 16, 2009.

Lawrence H. Summers, Director of the White House's National Economic Council, speaks about the economic outlook and the financial sector at a luncheon hosted by "The Economist" magazine at Pace University in New York October 16, 2009.

Lawrence H. Summers, Director of the White House's National Economic Council, speaks about the economic outlook and the financial sector at a luncheon hosted by "The Economist" magazine at Pace University in New York October 16, 2009.

Devin Wenig, Chief Executive Officer of the Markets Division of Thomson Reuters, speaks about the future of global capital markets at a panel discussion hosted by "The Economist" magazine at Pace University in New York October 16, 2009.

Devin Wenig, Chief Executive Officer of the Markets Division of Thomson Reuters, speaks about the future of global capital markets at a panel discussion hosted by "The Economist" magazine at Pace University in New York October 16, 2009.

Devin Wenig, Chief Executive Officer of the Markets Division of Thomson Reuters, speaks about the future of global capital markets at a panel discussion hosted by "The Economist" magazine at Pace University in New York October 16, 2009.

Richard H. Neiman, Superintendent of Banks, New York State Banking Department, speaks about the future of banks and hedge funds at a panel discussion hosted by "The Economist" magazine at Pace University in New York October 16, 2009.

Richard H. Neiman, Superintendent of Banks, New York State Banking Department, speaks about the future of banks and hedge funds at a panel discussion hosted by "The Economist" magazine at Pace University in New York October 16, 2009.

Richard H. Neiman, Superintendent of Banks, New York State Banking Department, speaks about the future of banks and hedge funds at a panel discussion hosted by "The Economist" magazine at Pace University in New York October 16, 2009.

U.S. Treasury Secretary Timothy Geithner speaks with Editor of "The Economist" John Micklethwait at Pace University in New York October 15, 2009. Geithner spoke about the economy rebounding, financial regulation, and executive pay amongst other topics.