I'm quoted on the subject, as is co-blogger Ted Frank, in this new piece by Joseph Lawler for the American Spectator. I should add that I'm not trying to speak to the ultimate merits of either specific proposal discussed (a more unified financial regulatory authority, and Fed powers to supervise entities that might be future bailout beneficiaries). I do think that we should be discussing whether such steps might risk being ineffective, or might provide a blank check for new authority by regulators, or worse yet, both.