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Something to make you think

Regulators are always subject to "regulatory capture" by the biggest private players. Thus, regulation never provides "fairness" but only continually raises the barriers to entry for all but the largest firms that can afford the fines and penalties. The regulators themselves are bought off. Lucrative jobs in the private sector await those regulators who make friends with those they are supposed to regulate. Regulatory democracy enshrines corruption throughout society. It substitutes mandates of man for competitive discipline and marketplace competition. All regulatory agencies within modern Western democracies are corrupt. Laws are written to exempt the powerful and criminalize what was previously seen as respectable business practice. At the higher levels of regulatory democracies, those who enforce the "laws" are well aware of the system's basic corruption. None of it is intended to facilitate fairness; it has been constructed to ease the path of mercantilism for the most powerful. One could say in fact that agencies like the tremendously inept SEC and CFTC are merely gatekeepers of the status quo. They have been put in place to give the public the sense that big financial players and banks are being "watched." In fact, as we can see from the letter written by Judge Painter, the CFTC in particular (but one could substitute almost any agency) are created not to impede business-as-usual but to enhance and it and protect it. That business-as-usual, of course, has to do with facilitating the power elite's stranglehold over wealth and power.


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