Jonah Goldberg channels William F. Buckley, Jr. to remind us that it is human nature to try to game the system, even the capitalist system:
Washington’s solution to Wall Street’s problems is to get Washington deeply, deeply involved in Wall Street. So involved that the savvier capitalists will recognize — once again — that the safest bets are not to be found in the vicissitudes of a fickle marketplace, but in gaming the system run from Washington. The “reform” coming down the pike will put bureaucrats in charge of investors. If bureaucrats were better than investors, they wouldn’t be bureaucrats. The government will decide which firms are worthy — “systemically important” — and which are not. Those that are will use their official “importance” to game the system. Instead of eradicating “too big to fail,” we will systematize it.
