Greg Mankiw had an interesting little post yesterday. Since it’s been a day, I shouldn’t be stealing any traffic from him, so here is the whole thing.

President-elect Barack Obama says the government has been “asleep at the switch” when it comes to overseeing the nation’s financial system.

He says Americans are “feeling frustrated that there’s not a lot of adult supervision.”

A smart but snarky friend points out:

You might appreciate the irony that Citigroup’s primary federal regulator is Timothy Geithner.