THIS IN THE WEEKLY STANDARD? I HARDLY BELIEVE IT!
This article in the Weekly Standard by Matthew Continetti made me wonder what is happening to conservatism today. Breaking up big banks and adding regulations is conservative? Here’s some highlights:
Over the last week, however, Paul Krugman has written two columns saying the size of the banks is irrelevant; what matters are the rules the government sets for the banks, and how well the government enforces those rules. (As an aside, my favorite line in these Krugman pieces is when he says that financial reform is “not like health reform, which was fairly straightforward once you cut through the nonsense. Reasonable people can and do disagree about exactly what we should do to avert another banking crisis.” So you see, anyone who disagrees with Krugman on health care is insane.)
So why is the Weekly Standard giving positive credit to Paul Krugman?
The conclusion is equally startling:
They [the large banks] will be able to game the system so that the rules Krugman champions won’t be enforced. * * * Why not limit the size of banks while policing their behavior? It’s not an either/or issue. Do both.
Perhaps this is just a momentarily lapse on the part of the Weekly Standard. Let’s hope so.
