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I think that the regulators are getting too much credit for keeping the banks out of crypto. The big banks were chary of crypto without any regulatory pressure. This was a Good Thing, since the big banks are regulated by Captain Renault, except in times of crisis. The little banks can be pushed around by the regulators. I suppose that this made some difference on the margin.

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Quiggins: Imagine how much more progress there would have been if we had enacted that tax on net CO2 emissions in 2008.

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Regarding Drezner, it does bother me about the excessive warmongering Washington has been doing in Ukraine as well as with China. I wonder how much of it is really necessary. Recent article by Taft in FP notes that Europe is getting a bit shaky and the Global South isn’t on board.

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Lol! What a precious Kinsley!

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