Volcker and Krugman on banking reform

Yesterday and today, Paul Volcker and then Paul Krugman took turns presenting views on banking reform. Volcker's list of issues to address is a little longer, including some walling off of commercial banking from other, more risky and less publicly insured (i.e., subsidized) activities, and a resolution corporation that could step in and unwind failing institutions, perhaps via a "living will" agreed upon in advance. Krugman's is shorter; he argues that a comparison with Canadian banks suggests to him that the one overt difference, more robust consumer protection, should be the focus of U.S. reforms.