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Don't Trash Paulson's Blueprint

by Clive Crook
Saturday, April 5, 2008


Paul Krugman of The New York Times and the editorial writers of The Wall Street Journal hate to agree, but Treasury Secretary Henry Paulson Jr.'s blueprint for financial regulation brought them to it. Krugman called the proposal "the Dilbert strategy" -- mere displacement activity, redrawing the org chart to no real effect. So did The Journal, more or less: "No bureaucratic deck chair goes unmoved," the paper observed wearily. (Does that make the financial system the Titanic? Let that pass.)


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