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Why can't people excel and be experts while being a regulator? That's like saying police have to be criminals before they can be police or they won't be experts

Why can't people excel and be experts while being a regulator? That's like saying police have to be criminals before they can be police or they won't be experts. If the financial industry is doing things so complicated that they cannot be policed, then they should be made to define their actions so that they CAN be policed, or their actions should be illegal.

rayiner 11y ago
Should government bureaucrats who have never coded something be in charge of micromanaging internet companies?
- kelseydh 11y ago
  I do know former coders managing government tech policy now. Don't assume they all lack technical knowledge. That's increasingly not the case from my experience.
  - rayiner 11y ago
    I'm making an analogy to tech policy. Of course we had people with coding experience managing tech policy. Similarly, we want people with banking experience managing banking policy.
  - shwouchk 11y ago
    That's kinda the whole point of the previous comment.
rdancer 11y ago
It's not that you cannot play for Blackhawks for a few seasons, and then sign up with Rangers. As the revolving door metaphor suggests, the movement is both more frequent and continuous. Glenn Greenwald goes even further in With Liberty and Justice For Some, suggesting the government and the industry have in practice become two departments of the same organization, with employees being reassigned, but never actually leaving: "People like [the Democratic appointees] Rubin, Summers, Patterson, and Gensler shuffle back and forth between the public and private sectors, taking turns as needed with their GOP counterparts. When in government, they ensure that laws and regulations are written to redound directly to the benefit of a handful of Wall Street firms, abolishing most regulatory safeguards that keep those behemoths in check. When the electoral tide turns against them, they return to those very firms and collect millions upon millions of dollars, profits made possible by the laws and regulations they implemented (or failed to implement) when they were in charge. Then, when their party returns to power, back they go into government, where they use their influence to ensure that the cycle keeps on going." And if you don't care for a 9–5 back at your old bank, or your party holds the presidency for too long and you're kinda strapped for dineros, you just ask for a reassignment with a short period of unemployment. During the sabbatical, you visit your Wall Street office for a few hours, collect a "speaking fee"[1], and take a holiday. When you come back, infused with vitamin D and liquidity, your lesser-minded colleagues may think you never left or (gosh!) took a bribe. [1] http://americablog.com/2013/07/tim-geithner-speaking-fees-goldamn-sachs-aig.html http://americablog.com/2013/07/tim-geithner-speaking-fees-go...
retube 11y ago
Would you trust a code reviewer who had never written a line of code or deployed an app?

rayiner 11y ago

Should government bureaucrats who have never coded something be in charge of micromanaging internet companies?

kelseydh 11y ago
I do know former coders managing government tech policy now. Don't assume they all lack technical knowledge. That's increasingly not the case from my experience.
- rayiner 11y ago
  I'm making an analogy to tech policy. Of course we had people with coding experience managing tech policy. Similarly, we want people with banking experience managing banking policy.
- shwouchk 11y ago
  That's kinda the whole point of the previous comment.

rdancer 11y ago

It's not that you cannot play for Blackhawks for a few seasons, and then sign up with Rangers. As the revolving door metaphor suggests, the movement is both more frequent and continuous. Glenn Greenwald goes even further in With Liberty and Justice For Some, suggesting the government and the industry have in practice become two departments of the same organization, with employees being reassigned, but never actually leaving: "People like [the Democratic appointees] Rubin, Summers, Patterson, and Gensler shuffle back and forth between the public and private sectors, taking turns as needed with their GOP counterparts. When in government, they ensure that laws and regulations are written to redound directly to the benefit of a handful of Wall Street firms, abolishing most regulatory safeguards that keep those behemoths in check. When the electoral tide turns against them, they return to those very firms and collect millions upon millions of dollars, profits made possible by the laws and regulations they implemented (or failed to implement) when they were in charge. Then, when their party returns to power, back they go into government, where they use their influence to ensure that the cycle keeps on going." And if you don't care for a 9–5 back at your old bank, or your party holds the presidency for too long and you're kinda strapped for dineros, you just ask for a reassignment with a short period of unemployment. During the sabbatical, you visit your Wall Street office for a few hours, collect a "speaking fee"[1], and take a holiday. When you come back, infused with vitamin D and liquidity, your lesser-minded colleagues may think you never left or (gosh!) took a bribe. [1] http://americablog.com/2013/07/tim-geithner-speaking-fees-goldamn-sachs-aig.html http://americablog.com/2013/07/tim-geithner-speaking-fees-go...

retube 11y ago

Would you trust a code reviewer who had never written a line of code or deployed an app?