This article is almost 2 weeks old, but still very much worth reading. I'm a bit behind in my Krugman-following, or else I'd have seen it (and linked to it) sooner.
Anyway, I have to believe that part of the reason the U.S. won't follow Prof Krugman's advice and emulate our banking restrictions is that playing it safe isn't something that comes naturally to Americans. That's to their credit, in most instances, I think. But "when it comes to banking," as Krugman says, "boring is good." That's exactly true. So I guess our Yankee neighbours can build up to another financial meltdown, if they want to... just as long as we here in the Frozen North don't follow suit.
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