James Kwak of the Baseline Scenario called this "The most fun-to-read post on financial regulation I have seen so far". Financial Regulation
"Sure, it would have been convenient if there were a law stating “when confronted with a bank run by a buffoon that is in the process of acquiring at a premium a bank run by a liar, the Secretary of the Treasury shall not direct the buffoon to consummate the merger.” Responsibility is a cross to bear. But the government already has more than enough power to intervene where it sees fit. What it lacks is the will."
I've been listening to one economist I respect after another talk about how Obama's "solutions" haven't been adequate and I'm getting more and more disappointed.
No comments:
Post a Comment