2 ms·

> the SEC received so many detailed reports that Madoff was doing something impossible and just blew them off. Regulators should have "skin in the game". Heck

• hga 16y ago
  Maybe, but I can't think of any way to make that work. A lot of politicians have been and will be losing their seats for following the lead of Barney "let's roll the dice" Frank. He's in a well gerrymandered seat (in the state that invented the process!) so he's likely to stay indefinitely, but who knows if the economy gets bad enough (e.g. http://news.ycombinator.com/item?id=1410594 http://news.ycombinator.com/item?id=1410594). One big factor here is that the whole situation has been thrown in flux with Ted Kennedy's death. He was the big "bring home the bacon" guy, there's no one last time I checked who's stepping into that role. E.g. Kerry doesn't have what it takes.
  • anamax 16y ago
    > Maybe, but I can't think of any way to make that work. Neither can I. If the good people of Mass want to keep electing him, there's not much that the rest of us can do. > "bring home the bacon" guy Supposedly pork actually kills jobs in the recipient's district. http://www.washingtonexaminer.com/opinion/Harvard-study-shows-earmarks-cost-jobs-95637114.html http://www.washingtonexaminer.com/opinion/Harvard-study-show... Another approach, which won't ever happen because of the social dynamics, is for his fellow legislators to punish his district. The theory being "we can't make you elect someone else, but we can make you wish that you had". However, legislators don't work that way.