Financial Reform Destined to Fail-Hoenig

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Wed, 06/29/2011 - 19:12 | 1413802 three chord sloth
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.

Wed, 06/29/2011 - 17:03 | 1413383 NorthenSoul
NorthenSoul's picture

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

Wed, 06/29/2011 - 12:27 | 1412269 TopOnePercent
TopOnePercent's picture

Basic math....


Remove lobbying

Create size limitations

Glass Steagall




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


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