Common Sense, Lessons Learned and Forgotten

Nassim Taleb has a good list out on on how to avoid future black swans. Common sense advice, if you think about it, however, something that seems to have been forgotten over the excitement.
I would add to that list one point though, build-in fault-lines that stop a problem from propagating throughout the system. One such fault line was the Glass-Steagal Act of 1933 which was repealed in Gramm-Leach-Bliley Act of 1999 – sixty-six years later – and which help to bring on the current crisis. Another lesson learned and forgotten.