dagblog - Comments for "Simon Johnson on Daley"

You know I think our biggest

miguelitoh2o — Mon, 10 Jan 2011 04:00:43 +0000

In reply to Whether they are competent or

You know I think our biggest problem is so few people understand economics, that it is easy for pols to bullshit the public when it comes to economic policy. We can write letters to our elected officials, but trying to get people united in a front on these issues is almost a non-starter. I think we're held captive until things get better or fall apart. Meanwhile we can engage in our discussion here, (or circle jerk as I think you or someone here put it). I'm personally gonna watch a movie now.

Johnson has literally spent

we are stardust — Mon, 10 Jan 2011 03:44:15 +0000

In reply to But what it means, according

Johnson has literally spent the entire last year and a half speaking to any group whjo would host him on the dangers of Too Big to Fail. He has tried to have faith in any amendment to FinReg that was being considered, chronicling each move every step of the way. He's appeared before Congressional committees...and imagine now that there are actually some weak laws that could be used to make some changes that might help to prevent the next financial crisis, that this administration is Too Weak to Care.

Whether they are competent or

Dan Kervick — Mon, 10 Jan 2011 03:38:07 +0000

In reply to I know,and have read a large

Whether they are competent or not, they are politicians. Thus, they are potentially capable of being influenced by political activism and pressure.

I know,and have read a large

miguelitoh2o — Mon, 10 Jan 2011 03:32:46 +0000

In reply to But what it means, according

I know,and have read a large number of Johnson's links heretofore. I esp liked his statement: "This is not a left-right issue – again, look at the list of people who co-signed Professor Admati’s recent letter to the Financial Times. This is a question of technical competence. Do the people running the country – including both the executive branch and the legislature – understand economics and finance or not?" So from his, and my perspective, the discussion is not so much about the policy we are promulgating as a nation as it is the competence of the actors we've elected or appointed to recommmend and choose the preferred policy we implement.

have lost this round We get

jollyroger — Mon, 10 Jan 2011 03:21:29 +0000

In reply to But what it means, according

have lost this round

We get another round? Cool, I thought we had lost the whole damn game.

The Euroshitstorm abateth not, nor the state and local fiscal meltdowns. All we hear are "families have to tighten their belts, so governments should too.."(as if families can print money...)

The latest unemp. numbers, rather than causing consternation followed by emergency spending measures, made Prez proud of himself, cause .4% fewer folks even maintain the hope of a job.

Good times!

But what it means, according

Dan Kervick — Mon, 10 Jan 2011 03:13:20 +0000

In reply to BTW, Johnson's editorial , at

But what it means, according to Johnson, is that a large group of financial experts, cutting across the ideological spectrum, who have been recommending a financial regulatory policy agenda designed to stabilize, shrink and diversify an overly-leveraged financial system, filled with too big too fail financial firms, have lost this round with the appointment of Daley. The links Johnson provide are all about financial policy.

BTW, Johnson's editorial , at

miguelitoh2o — Mon, 10 Jan 2011 02:40:46 +0000

In reply to You know Dan, when Simon

BTW, Johnson's editorial , at least from my reading, was not so much about policy as it was about the appointment of Daley and what that means for us earthbound mortals.

Plus, blogs left alone for 10

we are stardust — Mon, 10 Jan 2011 02:40:41 +0000

In reply to I guess I was hoping that

Plus, blogs left alone for 10 hours seem to go where they go.

You know Dan, when Simon

miguelitoh2o — Mon, 10 Jan 2011 02:37:13 +0000

In reply to I guess I was hoping that

You know Dan, when Simon Johnson ends his pice with:

<blockquote>Let’s be honest. With the appointment of Bill Daley, the big banks have won completely this round of boom-bust-bailout. The risk inherent to our financial system is now higher than it was in the early/mid-2000s. We are set up for another illusory financial expansion and another debilitating crisis.</blockquote>

I'm not sure there's anything I can add to "policy substance". Seems to me that it transcends policy and reflects more on a lack of imagination on the part of those in the seat[s] of power. [insert "Democratic flaggelation, self-pity and misery porn here]

the policy substance We've

jollyroger — Mon, 10 Jan 2011 02:18:07 +0000

In reply to I guess I was hoping that

the policy substance

We've already lost on <>policy substance<a>