Margaret Carlson in Bloomberg View on 'Boring White Guy' Rob Portman Politico reported this week that Mitt Romney is looking for an "incredibly boring white guy" to serve as his vice president, and having met Ohio Senator Rob Portman, Carlson says he's the perfect fit. "Portman could well be president. But in the natural order of all things BWG, [that's 'Boring White Guy'] he was born to be vice president first. And Portman, like all BWGs considered for the No. 2 spot, is now letting it be known -- in a careful, orderly fashion, of course -- that he may not be as B as some other WGs." Carlson lists his qualifications, describes him as a steady compliment to Romney, and declares that he's, in fact, pretty exciting for a BWG. "He once smuggled a kayak into China to run the Yangtze River!"
Tom Frost in The Wall Street Journal on the trouble with big banks Tom Frost describes the principles that his great uncle taught him while CEO of a small bank in Texas. "I was impressed that making money was not high on his list of priorities, but he implied that profits would come if we observed sound banking principles. When we look at banking in the United States today, Uncle Joe's values seem so long ago and far away. The industry is now dominated by a few large banks." Frost describes our safety valves for preventing bank failures, but worries about the moral hazard we create by saving them, and allowing the riskier side of their banking to endanger the more stable practices. "There's little evidence those institutions will share the concerns and dedication of my Uncle Joe—and many like-minded bankers in his time and since. If we truly separate the cultures of commercial and investment banking, the clients of both will prosper."