Monday, January 04, 2010
On the Cutting Room Floor
• Get the long run fiscal position of the federal government into balance. We have to do it by cutting spending and especially entitlements, we can’t do it by taxation. And if we don’t, we face a national bankruptcy.
• Get regulators into the financial markets, not to regulate innovation, but rather to enforce honest accounting and transparency. If we do, we’ll very possibly find that Goldman Sachs and similar big banks have been engaging in things that look awfully close to control fraud.
I wish I’d been considerably more eloquent, because these are important points, and any hearing they get is progress. But I was rather surprised that they wanted to interviewme instead of Bernanke.
Hmm. Could it be that CNN is slowly catching on to who really knows what’s important?
*"Throwing a long bomb" is a term from American football, and refers to a bold attempt to make a sudden great gain. In particular, it’s not statement amount anything explosive. (Mr. Bernanke’s Secret Service detachment, please note!)