Or at least something very much like it. Lucian Bebchuk, a professor of law, economics, and finance at Harvard apparently put forward a similar plan some months ago, and explained his thinking on Mark Thoma’s blog. A lot, as he says, depends on the structure of the auction. But getting it right seems very delicate and getting it wrong seems very easy.
Ezra Klein is a former Prospect writer and current editor-in-chief at Vox. His work has appeared in the LA Times, The Guardian, The Washington Monthly, The New Republic, Slate, and The Columbia Journalism Review. He’s been a commentator on MSNBC, CNN, NPR, and more. More by Ezra Klein