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This is statement is unfortunately true for every regulatory agency in the U.S. government. - CFPB -> all consumer corporations - FCC -> tech - FTC -> corpor
by marnett 9y ago
This is statement is unfortunately true for every regulatory agency in the U.S. government.
- CFPB -> all consumer corporations
- FCC -> tech
- FTC -> corporations spanning many industries
- SEC -> finance
- FDA -> big-pharma
- USDA -> big-agra
...on and on and on...
- forapurpose 9y ago> - CFPB -> all consumer corporations CFPB is very new; is there really evidence of revolving door hiring going on there?
- marnett 9y agoI was more so pointing out who would be interested in which agencies for influence. They are young and invigorated. We'll have to see how they recover from their big loss on the CFPB Arbitration Rule after the joint resolution from last fall.
- adrianratnapala 9y agoIt isn't (always) about some sinister revolving door. It's just that the people who enforce regulations and the people who manage compliance at regulated entities are experts in the same field even when they are not the same people. Both sides can be doing their jobs entirely honestly, but still they will co-evolve in ways that make the system convenient for existing players.
- rrcaptain 9y agoYou can add as many regulations as you want, but it only perpetuates a broken system. And even the reforms that do happen are temporary, and easily undone.