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THIS IN THE WEEKLY STANDARD? I DON’T 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.

About Elwood Sanders

Elwood "Sandy" Sanders is a Hanover attorney who is an Appellate Procedure Consultant for Lantagne Legal Printing and has written ten scholarly legal articles. Sandy was also Virginia's first Appellate Defender and also helped bring curling in VA! (None of these titles imply any endorsement of Sanders’ views)

One Response to “THIS IN THE WEEKLY STANDARD? I DON’T BELIEVE IT!”

  1. Colleen O. says:

    Per the Motley Fool website:
    “Of the 8,195 banks in this nation, just four, JPMorgan Chase , Citigroup, Wells Fargo, and Bank of America control nearly 40% of the deposits. Those four, plus Goldman Sachs, hold 97% of the industry’s notional derivative exposure.”

    The only reason I would support banks splitting up is so we don’t run into “too big to fail” garbage again. With Tarp, the govt forced banks to combine(making them bigger in some cases) then the fed has been lending them “free money” at almost no interest, so they can turn around and gamble tax payer money on derivatives. And a side note, don’t you think Krugman has “crazy eyes”? like Charles Manson or am I alone in thinking this?

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Tom White Says:

Nothing is more conservative than a republican wanting to get their majority back. And nothing is more liberal than a republican WITH a majority.

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