Fixing ‘Too Big to Fail.’ “During the crisis it was often said that officials at the Federal Reserve and Treasury would do ‘whatever it takes’ to avoid a Great Depression. Now they must do whatever it takes to address one of the key causes of the financial crisis: the existence of financial institutions that consider themselves too big to fail – but which are run in such a way that they are bound to do so.”
Crowds Are Really Individuals. “What really happens in crowdsourcing as it is practiced in wide variety of contexts, from Wikipedia to open source to scientific research, is that a problem is broadcast to a large number of people with varying forms of expertise. Then individuals motivated by obsession, competition, money or all three apply their individual talent to creating a solution.”
John Thune: Time for a TARP Exit Strategy. “It is time to bring an end to the TARP emergency measures and come up with an exit strategy to get government out of the business of running businesses. The administration owes the American people a timeline for how it will do this.”
Nile Gariner on the Great Irish Surrender. “The Irish ratification of the Treaty of Lisbon will pave the way for the biggest erosion of national sovereignty in Europe since the Second World War.”