https://pjmedia.com/richardfernandez/2011/12/03/why-too-big-to-fail-means-wait-for-it/feed/PJ Media is a leading news site covering culture, politics, faith, homeland security, and more. Our reporters and columnists provide original, in-depth analysis from a variety of perspectives.en-usWed, 10 Jun 2026 06:13:46 -0400<![CDATA[Nassim Taleb, writing in Foreign Affairs, describes why a Black Swan came to Cairo without anybody noticing and in general why opinion leaders keep getting caught on the wrong foot by the arrival of &#8220;large-scale events that lie far from the statistical norm and were largely unpredictable to a given set of observers.&#8221;  The fall of the Berlin Wall was a surprise. The 2008 meltdown was a surprise. The Arab Spring was a surprise. &#8220;Why is surprise the permanent condition of the U.S. political and economic elite?&#8221;]]>Sat, 03 Dec 2011 16:28:27 -0500<![CDATA[Richard Fernandez]]>https://pjmedia.com/richard-fernandez/2011/12/03/why-too-big-to-fail-means-wait-for-it-n191207