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>> If you were regulated and you had to hire someone to help you understand what you are and aren't allowed to do by these regulations wouldn't the first person

>> If you were regulated and you had to hire someone to help you understand what you are and aren't allowed to do by these regulations wouldn't the first person you look to hire be the person who actually wrote the rules? That's just the kind of story that people tell themselves and others while they're making a ton of money by screwing over society; that way not only can people get rich doing horrible things, but they can also look their victims straight in the eyes and smile while they're doing it. It's a win-win! (in the sense that one side gets to win twice).

MrEfficiency 8y ago
The mental gymnastics in OPs post are classic government apologists. Instead of criticizing the system, they find an excuse to propagate it. I dont have a solution, government is a beast that can barely be controlled. Voting and politicians seem like they have power, but the employees are often entrenched and reinforced by the winners of the current system.
- lovich 8y ago
  Not everyone views government as a purely negative
pc86 8y ago
You're right, it couldn't possible be that some people actually have good intentions and want to do good work for a good salary utilizing their decades of expertise in incredibly complex and ever-changing topics.
- jondubois 8y ago
  It's incredibly complex and ever-changing for a reason $$$.
  - tikkabhuna 8y ago
    Regulations are ever changing because regulators want the market to be a certain way and companies will look to innovate and sometimes this is in a way the regulator doesn't believe is in people's best interests. If you look at MiFID 2 that came into effect at the start of this year, it cost financial companies significant amounts to comply. Many of these companies would prefer it didn't exist. Others have identified opportunities from the changes that they can use (Dark pools being less prevalent and the rise of Systematic Internalisers). Its complex because there are lots of moving parts and regulators want to keep the market in check without having undesired consequences.
- makapuf 8y ago
  At that level I dunno if what's more important is the technicity you have or your connections. And being paid for having former connections in regulatory bodies seems bad. (Edit: typo)

MrEfficiency 8y ago

The mental gymnastics in OPs post are classic government apologists. Instead of criticizing the system, they find an excuse to propagate it. I dont have a solution, government is a beast that can barely be controlled. Voting and politicians seem like they have power, but the employees are often entrenched and reinforced by the winners of the current system.

lovich 8y ago
Not everyone views government as a purely negative

pc86 8y ago

You're right, it couldn't possible be that some people actually have good intentions and want to do good work for a good salary utilizing their decades of expertise in incredibly complex and ever-changing topics.

jondubois 8y ago
It's incredibly complex and ever-changing for a reason $$$.
- tikkabhuna 8y ago
  Regulations are ever changing because regulators want the market to be a certain way and companies will look to innovate and sometimes this is in a way the regulator doesn't believe is in people's best interests. If you look at MiFID 2 that came into effect at the start of this year, it cost financial companies significant amounts to comply. Many of these companies would prefer it didn't exist. Others have identified opportunities from the changes that they can use (Dark pools being less prevalent and the rise of Systematic Internalisers). Its complex because there are lots of moving parts and regulators want to keep the market in check without having undesired consequences.
makapuf 8y ago
At that level I dunno if what's more important is the technicity you have or your connections. And being paid for having former connections in regulatory bodies seems bad. (Edit: typo)