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Reasonable questions. What incentives would lead a trained banker to rigorously and honestly enforce regulations? What incentives would lead to retaining traine
by pjmorris 10y ago
Reasonable questions. What incentives would lead a trained banker to rigorously and honestly enforce regulations? What incentives would lead to retaining trained, rigorous, honest people?
- dilemma 10y agoThe parent poses good questions and they're rhetorical - instead of disincentivising this, it would be better to accept it and then create an organization with checks and balances to counteract it.
- rayiner 10y agoMary Jo White isn't a banker, she's a securities lawyer. She was a big deal partner at a major law firm before she went to the SEC. She's almost certainly going to go back to the same job after. All her incentives are aligned with aggressive enforcement of securities laws. Her firm makes money when the SEC comes down on people, not when it rolls over and lets things slide. You can see this starkly in the antitrust world. There was a lot more money in antitrust practice back before the current trend of going easy on antitrust enforcement.
- sievebrain 10y agoWhat incentives would lead a trained banker to rigorously and honestly enforce regulations? A salary. What incentives would lead to retaining trained, rigorous, honest people? A bigger salary. The difficulties the public sector has in implementing that is one of the reasons regulations so often go wrong.