September 19, 2008
The New New Deal in Financial Regulation?
Posted by Gordon Smith

For those who scoffed at my suggestion last Sunday that the regulatory response to recent events on Wall Street would be analogous to the New Deal (ahem and ahem), I offer today's WSJ:

History has thrown a handful of men together this week with a task that they themselves might have brushed off as unthinkable just days ago: Give the U.S. financial system its biggest makeover since the 1930s. And do it quickly.

In fairness, even I am surprised at how quickly my prediction is being fulfilled.

Remember, though, you read it here first.

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Comments (6)

1. Posted by Lawrence Cunningham on September 19, 2008 @ 9:45 | Permalink


Indeed we did read it from you first. Great work on covering this entire complex story.

2. Posted by Gordon Smith on September 19, 2008 @ 9:48 | Permalink


Thanks, Larry. I am feeling like Rodney Dangerfield all of a sudden.

3. Posted by David Zaring on September 19, 2008 @ 13:00 | Permalink

Heh. Gordon, our master plan for unifying the Glom voice - making everything sounds Glommy, that is - appears to be working.

4. Posted by Mike Guttentag on September 19, 2008 @ 13:51 | Permalink

Gordon aka David: Of course you can find support for such a ludicrous claim if you cite that radical left-wing rag, The Wall Street Journal.

5. Posted by Richard of Oregon on September 21, 2008 @ 21:10 | Permalink

I'm not much of a fan of Gordon Smith, but he's right here and can boast about it, I guess. The bigger question is how are we going to unfix the new deal? Which candidate will help? Which will get us in deeper? What sayth the prophet on this?

6. Posted by Gordon Smith on September 21, 2008 @ 22:03 | Permalink

Umm ... Richard from Oregon. Are you thinking of Senator Gordon Smith from Oregon? That would be another guy, who doesn't blog here.

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