Today, a brief guide to the debate over financial reform, which is a lot harder to follow than health reform was. Full Story »
Posted by Kaizar Campwala - via Paul Krugman, New York Times (Opinion), Opinion Source, AllTop, Real Clear Politics, Memeorandum, NewsRack (Business), New York Times (Most Emailed), Yuni Iwata (t), Willie Bido (t), Fabrice Florin (t), Shams Kazi (f), David Fox (f), Alex Williams (f), John ID Parker (f)
I'd have to say an expert was cited as Krugman himself must be considered one. But it's always interesting to see how much more complex experts consider their own field as compared to others. This week I've read that the health insurance reform bill contains millions of abstinence-only sex"education" programs that have been proven to be nothing of the sort. The much-touted anti-recision measure simply repeats laws that are already on the books and are routinely violated by insurance companies. The language about children with pre-existing conditions was not clear and had to be clarified by Secretary Sebilius. And I'm sure more will come to light after more people get deeper into the bill. So I must respectfully disagree with ... More »
I also believe Krugman has oversimplified the topic of reform. He has addressed only two issues here--size and leverage. He has not addressed the sale of complex products that even most bankers don't understand. Institutions that mix savings, credit, and investment to the detriment of customers and the economy. The fact that risky behavior is encouraged by banks that simply issue credit and sell the risk on--or insure against it. Or the outrageous profits and salaries still being ... More »
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