Comment Re:Apparent Contradiction in the Article (Score 1) 148
I agree that the crowd idea won't work until there is the political will to actually enforce these rules. Even in the best of times you have too many regulators looking for a way into the industry they're regulating (like the oil rig inspectors at the MMS) but when you combine that with leadership that doesn't believe in government regulation then things are so much worse.
When the Madoff matter started to look fishy message from the leadership in Washington was that lax enforcement was the way to achieve the deregulation they were looking for and that makes perfect sense from a political point of view. You don't get money for reelection from people you hound with regulators and people who don't believe in government, or at least believes that government regulation generally does more harm than good, shouldn't be expected to run one well.
When the Madoff matter started to look fishy message from the leadership in Washington was that lax enforcement was the way to achieve the deregulation they were looking for and that makes perfect sense from a political point of view. You don't get money for reelection from people you hound with regulators and people who don't believe in government, or at least believes that government regulation generally does more harm than good, shouldn't be expected to run one well.