This Guy, This Guy!! (Points, Jumps, Spits)

His name is Simon Johnson. I expect other people to find this stuff and pass it along to me in preferably, digestable bits, because I just don't have the smarts or the time. But I need to know. So do you.

In any case, the issue today is not whether we should nationalize.  Mr Paulson effectively nationalized the liabilities of major banks without putting in place any effective supervision of banks’ operations.  This is not a winning combination.

What we really need is to reprivatize - to return the banks to real private owners, preferably with strong voices on boards, and perhaps with controlling ownership stakes.  And we must, above all, make sure those owners have the incentive to break the banks into smaller, more manageable pieces, none of which are “too big to fail.”  As part of this process, some boards of directors will either have to go or be reshaped dramatically.  And new boards can decide who should or should not run these greatly restructured banks.