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Reforming Regulatory Agencies — 2 Comments

  1. Excellent analysis of the problem, and very interesting proposal – Putting the regulatory agencies under the justice system. The subject is highly topical. We hear at this very moment that Moody and Standard and Poor gave, earlier, the Greek sovereign debt an AAA rating, that they similary gave triple A scores to all sorts of high-risk, junk, investments (“derivatives”), etc.

    After the Enron scandal, there was much talk of regulatory reform, but nothing happened.

    It’s all quite clear. The regulatory agencies have been coopted by the companies/industries they are supposed to regulate. It’s enough to make one despair.

    But if Gordon and I can be in bi-partisan agreement on such things as regulator reform, surely Congress should also be able to do so…

  2. Pingback:Consumer Financial Protection Agency: Get ready for more trouble

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