Economist Simon Johnson says mainstream people ought to take Ron Paul more seriously, because he does have some smart things to say about our economic system. The problem with Paul, though, is his prescriptions are faulty:

Ending the Fed – even if that were possible or desirable – would not end the problem of Too Big To Fail banks.  There are still many ways in which they could be saved.

The only way to credibly threaten not to bail them out is to insist that even the largest bank is not big enough to bring down the financial system.

That’s Huntsman’s proposal.