The Dilbert Strategy

Paul Krugman nails it:

Anyone who has worked in a large organization - or, for that matter, reads the comic strip "Dilbert" - is familiar with the "org chart" strategy. To hide their lack of any actual ideas about what to do, managers sometimes make a big show of rearranging the boxes and lines that say who reports to whom.

You now understand the principle behind the Bush administration's new proposal for financial reform, which will be formally announced today: it's all about creating the appearance of responding to the current crisis, without actually doing anything substantive.

So, will the administration's plan succeed? I'm not asking whether it will succeed in preventing future financial crises - that's not its purpose. The question, instead, is whether it will succeed in confusing the issue sufficiently to stand in the way of real reform.

Please read the rest.