I am intrigued by the use of the term “populist” to describe sound and desperately needed financial services industry reform. In its pejorative (and intended) sense, a populist policy is one that is popular, but anti-establishment and anti-intellectual.

Given that our latest economic troubles were caused by a financial services industry run amok, financial services reform may be anti-establishment, but it’s certainly not anti-intellectual or unorthodox.  It’s good public policy and common sense.