4 ms·
The movie "The Big Short" has a brief scene with reference to this that you reminded me of and I highly recommend the movie. In the scene one of the main charac
by wldcordeiro 10y ago
The movie "The Big Short" has a brief scene with reference to this that you reminded me of and I highly recommend the movie. In the scene one of the main characters is discussing with his brother's ex who is an SEC regulator and she says something to the affect of "the regulators are a revolving door of industry insiders and you aren't going to get looked at when applying for the cushy bank job if you're known as the stickler regulator."
- MichaelGG 10y agoIn Canada, there's a "saying" with the big Yelcos like BRM or Rogers: if they need a law passed, one of their VPs resigns and joins the CRCT (FCC equivalent). That'd explain how they pass laws like the one that mandated that competing DSL providers couldn't price services lower than Bell or offer uncapped data.
- wldcordeiro 10y agoThe same is said here but our current FCC chairman actually has some balls and was actively involved the past few years helping fight for net neutrality (though sadly at first being on the side of the ISPs)[0] which was kind of mind blowing. [0] https://en.wikipedia.org/wiki/Tom_Wheeler#Net_neutrality https://en.wikipedia.org/wiki/Tom_Wheeler#Net_neutrality
- cjarrett 10y agowheeler is awesome.
- cowardlydragon 10y agoThat was 100% unexpected by me when I heard about his nomination.
- r00fus 10y agoSadly, he's the general exception. Extraction industry is pretty horrible in terms of regulatory capture.
- psychometry 10y agoThis happens in many industries. The government-agriculture revolving door is explored in Food, Inc.
- rdancer 10y agoThe book that superb movie is based on is well written as well.
- vasilipupkin 10y agoYou are going to have a harder time getting a good job in compliance at a bank or a trading firm unless you were a good regulator