It was former Treasury secretary Henry "Hank" Paulson's turn in front of the Financial Crisis Inquiry Commission yesterdayn-- and, boy, does this guy sound like the voice of reason we've all been looking for.
His testimony was compelling, on-point, and chock-full of tremendous insight. Some snippets:
"Reforms are unquestionably required'
"Better disclosure is necessary."
"The regulatory system is archaic and outmoded."
"Credit Rating Agencies were a dangerous crutch."
"Liquidity is important."
Gee, where was this guy when we needed him? Oh yeah, he was right in the thick of it.