As the idea of a banking enquiry gains traction here in Ireland with both the Government and the Opposition, the Financial Crisis Enquiry Commission has started hearing testimony in the US. Click hear to read Paul Krugman's take on Wednesday's hearing - and in particular the excuse proffered by Jamie Dimon of JPMorgan Chase, who declared that a financial crisis is something that “happens every five to seven years. We shouldn’t be surprised.” As Krugman notes, "In short, stuff happens, and that’s just part of life".
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