Raymond J. Learsy: Krugman Takes On The Angry Rich But Misses Their Pompous Pieties
Yes “it needs fixing now,” but I would suggest that there will be no fix forthcoming when the regulators are chosen from among the rock stars of the industry being regulated.
The choice of Elizabeth Warren to be central to the process is encouraging, the departure of Summers, tardy, but the names being bandied about to replace him offer little hope for reform.
Wall Street or the Banksters, whatever name we choose for this cesspool of crime will not be cleansed with a feather duster and a broom.
We need bulldozers, to start in the middle and push this rancid stink west into the Hudson and east into the old sound.
I suggested yesterday that I would like to see Warren joined by Krugman and Robert Reich, people with a sense of populism in their hearts and more than a gossamer tether connecting their minds with reality at the helm.
A reader (for whom I have deep respect) responded to that suggestion with:
“Oh… you dear, sweet man. Don’t we all. It will never happen, of course. They’re actual, realistic, populist economists. Naturally, that takes them COMPLETELY out of the running.”
So maybe I’m naive but I don’t believe we will solve this crime by the addition of more crooks, it’s time for cops, indictments, convictions and jail time.