A few days ago, this hearing might have focused on why we need to bribe the banksters to clean up their mess. Now, it will undoubtedly focus on why we’re socializing risk some more. We’ll also have William Dudley, the new head of the NY Fed. The Honorable Timothy F. Geithner, Secretary, U.S.

Why are we having two guys whose jobs it is to ensure the health of our financial system in charge of solving a problem that arises from structural weaknesses in our entire economic system?