2 ms·

My two cents: how are the regulators funded? Is it self funded like the CFPB through fines on the entities it regulates or through the state / federal governmen

My two cents: how are the regulators funded? Is it self funded like the CFPB through fines on the entities it regulates or through the state / federal government? Self funding, while difficult and not applicable to all agencies, seems to inoculate regulatory capture somewhat. Second, what's Mr. Suess resume look like? His LinkedIn profile only shows his work as a regulator, was he in the industry in a previous life? The revolving door between industry and regulation at the highest levels seems to be a precursor to "oversights" like this.

hwillis 7y ago
> Self funding, while difficult and not applicable to all agencies, seems to inoculate regulatory capture somewhat. I would absolutely want to see statistical evidence of that before I supported it. Regulatory agencies are destroyed from within. If you tie funding to prosecution, a few corrupt appointees can cripple an agency for years. Simply by passing on a few big cases they would destroy the funding flow and lose critical employees even if they didn't intend to. If there is an external funding supply, it can be cut off but at least the agency will survive bad appointees. The US government in particular is built on checks and balances; betting everything on the agency keeping itself afloat is not balanced.