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This is why the people that regulate things often come from industry. You’ll see a lot of (not entirely misguided) complaining about the fact that the people th
by clay_the_ripper 7y ago
This is why the people that regulate things often come from industry. You’ll see a lot of (not entirely misguided) complaining about the fact that the people that regulate finance, for example, often come from a major bank like Goldman Sachs. While this can lead to questionable rules in some cases that “favor the banks” at least someone that understands the industry is regulating the industry.
I’d rather that than have some idiot who knows nothing write the rules and screw everything up.
- lowdose 7y agoMario Draghi also had a career at Goldman before he ran the ECB. Goldman is not called a vampire octopus squid for nothing. We have especially seen in banking what regulation from the industry boils down to. There is no need to be an industry expert to become a regulator, it is on the regulated to explain the context as simple as possible.