Do I agree with Paul Krugman?
April 5, 2010 | federal legislation, industry | Comments (0)Well, kind of, sort of, a little. His New York Times blog today makes this point about the proposed financial reform bill:
It’s a good-faith effort to do what needs to be done, but it would create a system highly dependent on the wisdom and good intentions of government officials. And as the history of the last decade demonstrates, trusting in the quality of officials can be dangerous to the economy’s health.
Our solutions are different. He wants stricter rules in the legislation. I want the bill to focus on too-big-to-fail financial institutions and mortgage lenders and leave none-bank institutions alone.
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