David Brooks and the Magic of Redefinitions


Kevin has his thoughts on the new David Brooks column. I want to highlight a passage he didn’t address. Here’s Brooks:

What we need in this situation is authority. Not heavy-handed government regulation, but the steady and powerful hand of some public institutions that can guard against the corrupting influences of sloppy money and then prevent destructive contagions when the credit dries up.

Huh, that’s funny. “The steady and powerful hand of some public institutions that can guard against the corrupting influences of sloppy money and then prevent destructive contagions when the credit dries up” — what does that sound like to you? Sounds an awful lot like “regulation” to me.

(H/T Merrill Goozner)

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