Continuing the domestic metaphors, how many times do you bail your kid out before (s)he has to deal with the world on his/her own?
De-regulate or extricate, but not both. Or if we do extricate the banks from their financial crisis, let’s not give them the car keys without oversight again.
Oversight? Wall Street didn’t just have a little fender bender, that’s what they tried to tell us with the Bear Sterns deal. No, Wall Street is calling us in the middle of the night after totalling his new car, drunk and expecting us to post bail. Well, I say this is a time for tough love, leave Wall Street in the drunk tank, we’ll be down to pick him up in the morning.
Let Wall Street ride his bike to school for the rest of the year, he’s proven that he isn’t mature enough to drive. Let him see the consequences of his actions.
