Scott Sumner is worried about little things like unemployment and fiscal sustainability. Fortunately, our political leaders are not distracted by such trivialities.

The Treasury, the Federal Deposit Insurance Corporation, the Federal Housing Finance Agency, the 12 Federal Reserve regional banks, the Board of Governors of the Fed, the National Credit Union Administration, the Comptroller of the Currency, the Securities and Exchange Commission, the new Consumer Financial Protection Bureau…all would get their own Office of Minority and Women Inclusion.

This is in the financial reform bill. Evidently, the financial crisis was caused by flawed human resources policies at Federal regulatory agencies. I am glad that our leaders are focused on the big picture, so that they are not distracted by little things like housing policy.

Anyway, read Scott Sumner’s whole piece. He keeps trying to stick up for mainstream economics, in a world increasingly gone mad.