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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: quehubo who wrote (105271)3/1/2009 8:57:21 PM
From: JohnM  Respond to of 540978
 
I don't really think it's any secret. Once you are in a political climate in which regulation is an ideological negative, then regulatory bodies simply go out for a very long lunch. The best people don't work there; the one's who do are time serving or rattle the cages and get fired; or don't get the pick of the jobs waiting on the other end of the time serving bit.

It's the long playing out of the mantra that the government is the problem rather than the solution. We are all living the consequences of that. And will be for many years.



To: quehubo who wrote (105271)3/1/2009 10:23:52 PM
From: Dale Baker  Read Replies (1) | Respond to of 540978
 
The interviewee on 60 Minutes said specifically that top Wall Street guys didn't report Madoff because they lived in glass houses themselves for various other reasons, and throwing stones was not high on their agenda.

You are right that an incestuous circle begins between pols, regulators and beneficiaries of loose oversight. This mess certainly began in the Clinton years and reached full cry under Bush's crowd.


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