This morning the panel on Inside Washington discussed the Administration’s moves to limit executive pay. Colby King suggested that the best form of financial regulation would be to essentially un-repeal Glass-Steagal. Put commercial banks back in the business of collecting deposits, loaning money, getting loans paid back, and being carefully regulated while letting investment banks take whatever risks they want and pay their guys ridiculous sums. Then when the investment banks did stupid things the government could just let them fail without crashing the whole world.
I heart Colby King.