Thursday, March 26, 2009

Plan?

While many intelligent people are plainly skeptical the money changers and politicians can be trusted at all, Andrew Sorkin wants to know "Where's the Plan, Wall Street?" in today's New York Times DealBook. Since he hasn't seen one yet, he presents his own five-point solution for the fine mess we're in right now. Reform is desperately needed, of course, and not just for investment banking and other Wall Street gambling but for political gaming in Washington as well. But asking the gamblers to come up with a plan sounds like asking the fox to guard the hen house. Would you even trust them to deliver pizza right now? Many of the readers' comments following Sorkin's article may be more to the point. What's really needed is some serious regulation and informed outside oversight. Does anyone have Paul Krugman's number handy, or Robert Reich's or Sheila Bair's?

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