Heard on CNBC

[Mark Mandel]

On Wed, Dec 23, 2009 at 5:09 PM, Michael Sheehan <wordmall at aol.com> wrote:
"In retrospect, we knew that we had to look ahead."

Ow. Does that mean:?

1. We knew that we should have looked ahead,
    but we didn't (look ahead).

2. We should have known that we had to look ahead,
    but we didn't know (that we had to look ahead).

3. We knew that we had to look ahead,
    but we didn't know (that we knew we had to look ahead).

m a m

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