A Brief Guide to Fixing Finance
My friend and colleague Bob Litan has out a thoughtful essay on fixing finance. Definitely worth a careful read.
My biggest disagreement with Bob's paper concern's the role of credit ratings agencies. As I have told him, they are largely unfixable. I have pointed out here a number of times that credit ratings agencies are a government oligopoly almost perfectly designed to be dangerous. The trick isn't to revise their mandate, it is to cut them loose entirely.
Anyway, more here.
