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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