First was this editorial by Daniel Henninger entitled "Mad Max and the Meltdown". The conclusions are interesting, and debatable, but it's nice to see them in print and think about the proper role of government in the financial markets. (In short, regulation from outside isn't enough - the actors need to have moral compasses themselves for the system to work properly).
My favorite quote was tangential to the main point, but chilling nonetheless:
"The answer echoing through the marble hallways of Congress and Europe's ministries is: regulation failed. In short, throw plaster at cracked walls. Trusting the public sector to protect us from financial catastrophe is a bad idea. When the Social Security and Medicare meltdowns arrive, as precisely foretold by their trustees, will we ask again: What were they thinking?"
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