Krugman says Roosevelt’s Mike Konczal is ‘Essential Reading’ on Financial Reform

In yesterday’s New York Times, Paul Krugman criticizes the Dodd bill, calling it a long way from ‘fool-resistant.’ The bill, he notes, leaves far too much to the discretion of the Financial Stability Oversight Council — an interagency task force that includes some folks that haven’t exactly won our confidence, like the chairman of the Fed and the Treasury Secretary. Krugman cites Roosevelt Institute fellow and ND20 blogger Mike Konczal as the man who understands the problems with the plan:

Mike Konczal of the Roosevelt Institute, whose blog has become essential reading for anyone interested in financial reform, has pointed out what’s wrong with this: just consider who would have been on that council in 2005, which was probably the peak year for irresponsible lending.

As Konczal reminds us, Greenspan would have been on the council in 2005, along with John Snow (whom Krugman refers to as Karl Rove’s ‘errand boy’, and John Dugan. ‘Nuff said.

Recent posts by Mike Konczal:

“Greeks, Romans, and The Permanent Committee to Save the World Forever Bill”

“Leonhardt in the NYTimes Magazine, The Uses of Discretion with PCA”

“An Interview About Interchange Fees with The Credit Card Con”

“How to Think About Resolution Authority”

“What Would Goldman Lobbyists Hate About the Financial Reform Bill?”