Academic

From David Zaring, who is having trouble posting from China:

• For the financial regulation bill passed by the Senate, it is worth noting that this is a relatively fast response to a crisis (while the stock market crash happened in 1929, the 33 Act and 34 Act aren't called by those numbers for nothing. Hiving of derivatives businesses is a strange way to address the too big to fail problem that many have bemoaned, but it is a way of addressing it. 
• At the Glom we have been outsourcing our coverage of the sovereign debt crisis. What bothers me most about that is not the outsourcing - Anna Gelpern is blogging very well on this - but the fact that a macroeconomist I know confidently predicted in December that sovereign debt would be the next domino to fall. Knowing the track record of macroeconomists, I immediately went long in the field. C'est la vie.