In his column today, Paul Krugman reminds us of the press event in 2003 where "officials from multiple agencies used pruning shears and chainsaws to chop up stacks of banking regulations." This sounds so outrageous in light of the current state of the financial markets that it's hard to believe the story is true. But it is. And just in case anyone thinks Krugman is making the story up to pin the blame on the Bush administration, I have the picture. Luckily, I saw it in a story way back in 2003 and thought it worth saving to my computer, due to the extreme irony of regulators destroying regulations. I used it as one of the pictures rotating on my screensaver for a while (back when that was cool), but no one else thought it was funny. Here it is:

What once was ironic is now sad.

15 comments:

Maggie Knowles said...

Bankers chainsaw massacre.

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Taylah Roberts said...

I never seen that red tape is cutting through with different chainsaw shown in the image published on your blog.This information is really diferent.

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Holly James said...

That's pretty funny that that they cut through the red tape with a chainsaw! My dad has a bunch of old chainsaws that don't work but I think if he got the proper parts they would all work just fine! Where can I find chainsaw parts?
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