Academic

I have yet to hear someone seriously argue that things would be going better if only Andrew Cuomo were handling it.  There's no question that in time there will be plenty of writers in the "bailout was a payout" vein, and in the "the government did it incompetently" vein  Still:

• I'd guess that the crisis makes it more likely that there will be federal chartering of insurers, though I doubt Larry Ribstein will be pleased about it.
• I'd guess that regulatory competition among federal regulators (OCC v. Fed, most notably, but SEC v. CFTC also) will decline in the reform bill that will follow the conclusion of the crisis.
• Will Wall Street libertarians continue to fund outfits that argue for states rights in light of their felt need (or want, anyway) for a big dollar federal intervention?
• And I hope that people will start saying more clearly that no one should do what the Fed has been doing, if that's what they think, instead of hiding behind the strange concept that North Carolina should be doing what the Fed is doing.