Paul Krugman's latest op-ed comment on bankers is quite dead-on. I have been arguing in the same direction. However, I think he is quite modest this time. Saying that bankers are clueless is most certainly right when it comes to knowledge about their risk-taking and how to control it. What those bankers do exactly know is that they take on those risks and the potential consequences (their memory cannot possibly that short). They also know how much money they personally make in the current, under-regulated system. Therefore, and for no other reason they want to keep the system going (even though they come up with all kinds of other arguments such as limited growth potentials owing to stricter regulation).
I can also fully agree with Mr. Krugman that without tighter regulation and supervision a future credit crisis is almost inevitable.
