Andy Kessler Gets It Right
Not surprisingly our old friend Andy Kessler gets it exactly right. Forget smarter regulators or smarter banks; that’ll never happen. Raise capital requirements, limiting the banks ability to create money and fund poor investments. More people read Andy than read us, by a couple orders of magnitude, so now all we have to do is sell him on full disclosure and this whole bank thing will be fixed.
Tags: Andrew Redleaf, Bernanke, capitalism, Regulation, Richard Vigilante, WSJ
