A Fake Financial Fix | Mark A. Calabria | Cato Institute: Commentary

A Fake Financial Fix | Mark A. Calabria | Cato Institute: Commentary: "Of course, the administration tells us that bailouts won't be needed — because the same regulators who missed the signs of the current crisis will get added powers to prevent the next one.

We're supposed to believe that, if only the Federal Reserve had the same oversight powers over AIG as it now has over Citibank and Bank of America, that the bailout of AIG would have been avoided. Just think: If only AIG had been managed and regulated as well as Citibank — because Citi is in such great shape now."