Some may think it's crazy for governments to encourage the perverse bonus structures and warped incentives that helped push the world into a global financial crisis just over a year ago. But as far as I'm concerned, Canada would be crazy not to.
Update: Greg weighs in as well.
Update II: What Paul Krugman said:
(T)he point needs to be repeated again and again: at this point, there is no reason to take it on faith that cleverness in the financial industry is a net social good. Unless you can provide some clear evidence of productive innovations since regulation began to unravel — and ATMs don’t count — the balance of the evidence suggests that smart people have been devising ingenious ways to concentrate risk and direct capital to the wrong uses.
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