Financial Reform Destined to Fail-Hoenig

thetrader's picture

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three chord sloth's picture

The banking sector as it currently stands cannot be regulated. Not because of regulatory capture... it is more accurately called a merger between the regulators and the regulated.

The knowledge necessary to effectively regulate the modern-day banking industry is fairly esoteric and rare; anyone with that knowledge can make a fortune by jumping ship -- and it seems like many use their time in the regulatory apparatus as a resume enhancer.

It is in the best interests of the individual regulators to let Wall Street run free -- the better to cash in when you leave DC and join it.

NorthenSoul's picture

Who's the employer of the joker who gave one star to this post?

TopOnePercent's picture

Basic math....

 

Remove lobbying

Create size limitations

Glass Steagall

 

Or...

 

Just look forward to having 3 banks and a FASCIST government.....