A very interesting

discussion on what next for America (link via IndiaUncut). I wouldn't claim that I understood everything. But from my understanding of the article it surely seems very difficult

See this for instance!

We’re going to need regulators who can anticipate what the nextWall Street business model is going to look like, and how the nextcrisis will be different than the current one. We’re going to needsquads of low-paid regulators who can stay ahead of the highly paidbankers, auditors and analysts who pace this industry (and whothemselves failed to anticipate this turmoil). We’re apparently going to need an all-powerful Super-Fed than can manageinflation, unemployment, bubbles and maybe hurricanes — all at the sametime! We’re going to need regulators who write regulations that controlrisky behavior rather than just channeling it off into dark corners,and who understand what’s happening in bank trading rooms even if theC.E.O.’s themselves are oblivious. We’re also going to need regulators who can overcome politics and human nature. As McArdlenotes, cracking down on subprime loans just when they were gettingfrothy would have meant issuing an edict that effectively said: “Don’tlend money to poor people.” Good luck with that.

Not very easy I think!