During the Revolutionary Era in this country, Benjamin Franklin printed an old English rhyme in his Poor Richard’s Almanack that touted the benefits of preparedness and preparation:
For want of a nail the shoe was lost.
For want of a shoe the horse was lost.
For want of a horse the rider was lost.
For want of a rider the battle was lost.
For want of a battle the kingdom was lost.
And all for the want of a horseshoe nail.
A little over two decades ago, in the wake of what was then the worst stock market meltdown since the Great Depression—in October 1987—President Reagan issued ...