Disregard my grammar, I know it should be "to whom you listen." Sounds weird. More importantly, in comments released by Treasury moments ago about Sec. Geithner's statement today on financial reform to the American Enterprise Institute. Let's hope his words are heeded by Chris Dodd and congress more broadly. Words meet action, please...

Listen less to those who told us all they were the masters of noble financial innovation and sophisticated risk management. Listen less to those who complain about the burdens of living with smarter regulation or who oppose having to pay a fee for the costs of this or future crises.

Instead, listen to the families and businesses still suffering from this crisis. Listen to those who borrowed responsibly but today can't get a loan or refinance their mortgage. Listen to those who lost their jobs and their healthcare and their pension savings. Listen to them.

 

Free markets and just markets are well-regulated markets. Our collective experiment as a nation with "voluntary compliance" and deregulation has ended in the shattered economy we're all working to put back together.