Monday, February 22, 2010

Letter from the nursing home

We who have served as secretary of the Treasury in both Republican and Democratic administrations write in support of the proposed legislation to prohibit certain proprietary activities of commercial banking organizations—the so-called Volcker rule, as part of needed financial reform.--W. Michael Blumenthal, Nicholas Brady, Paul O'Neill, George Shultz, John Snow
They from a different age, as CNBC ranter Jim Cramer just calmly explained a few minutes ago on the air (save O'Neill, who was quickly fired, and John Snow, who oversaw Treasury during the run up of the housing bubble).

They are peers to a dinosaur who inspired me to invoke the following law:
Those who can't do teach, and those who can't teach must regulate.
Here is some recommended reading for these guys, some of whom actually did a decent job back in the day.

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