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Monday, September 22, 2008

McCain on Regulation

We need effective regulation in our financial markets (Shocked, shocked by greed. Boston Globe, September 18, 2007: A10).

John McCain is not the candidate of financial regulation. John McCain never came across a regulation that he liked, except one: the regulation restricting a woman's choice to have an abortion.

Sent to Boston Globe

Kerry's Tin Tongue

John Kerry really does have a tin tongue. He characterized thirty one percent of the Democratic voters who voted for his opponent as "mischief makers" (Kerry wins primary decisively, Boston Globe, September 17, 2008: B1, B5).

He is right that we will rally around him in the November election. There is no way we can risk losing a veto-proof majority in the Senate to support the next Democratic president. So Kerry despite his arrogance will return to the Senate.

Sent to Boston Globe

Too Big to Fail

The takeover by Bank of America of Merrill Lynch may be the best short term solution (Lehman files for bankruptcy; Merrill is sold, New York Times, September 15, 2008: A1).

In the long term it is unlikely that the cultures of two so very different organizations can be melded into a coherent whole. Even if they are successful, aren't we just building a company that, when the next financial crisis hits, will be "too large to fail."

Sent to New York Times