EVERYTHING SEEMINGLY IS SPINNING OUT OF CONTROL. “How Regulators Mess With Bankers’ Minds, and Why That’s Good,” according to — but of course — the New York Times:

The regulators deliberately did not communicate the exact things the banks needed to do for their plans to pass muster. In this way, they kept them on their toes — and treating powerful banks this way may end up playing a surprisingly important role in keeping the financial regulation effective over time.

Franz Kafka, call your office! I’m old enough to remember when the American left considered Joseph Heller’s Catch-22 and Otter’s pretzel-logic boast to Flounder in Animal House that “you f***ed up — you trusted us!” to be warnings, not how-to guides for good governance.

https://youtu.be/5yeGMaT3PvI?t=1m39s

(Found via Mark Hemingway, who tweets, “Call me crazy, but stuff like this makes me think progressive types have bizarre ideas about financial regulation.”)