David Leinweber
"Ready, Fire, Aim" Market Reform
Previous disasters, all notably less damaging than the Great Mess of '08, have led to deep serious analysis of their causes. The general notion being that understanding the causes might be useful in avoiding nasty repeat performances. This has been Standard Operating Procedure for a long time for good reason. The alternative Ready Fire Aim approach can be hazardous to your health, yet that seems to be the plan for the newly announced Financial Crisis Inquiry Commission, tasked with reporting back on the crisis that nearly broke capitalism by the end of 2010, while the legislation to avoid a financial crisis is being crafted now.
Forget the bailout, start over: the New American Bank Initiative
The bailout of the US financial system isn't working. The government's rescue plan has fundamental flaws, including incentives that favor the failed firms, not the country as a whole. New ideas are needed. In "New American Bank Initiative: Removing structural flaws in the economic rescue," Sal Khan and I propose a radically different plan–don't prop up existing banks, take part…