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First sentence: > Regulation needs effective supervision So, the regulation needs regulation. Great. Hold tight, folks, it's turtles all the way down.
by pgayed 6y ago
First sentence:
> Regulation needs effective supervision
So, the regulation needs regulation.
Great.
Hold tight, folks, it's turtles all the way down.
- pgayed 6y agoI fail to see how regulation of regulators is somehow invulnerable to the same failures it is trying to preclude.
- lemonspat 6y agoThat does not sound like a "who watches the watchers" but that the 'regulated' banks were found to be sly with the existing watchers, meaning the current process was ineffective (there is no bite to the regulation)
- pgayed 6y agoI don't mean to be glib, and I am rapidly hemorrhaging rep points here by continuing, but the players will always be more athletic than the referees. (And there will always be more of them because the latter’s existence is derivative of the former.) P.S. Welcome to hn.
- sgt101 6y agoIt's not that regulation needs regulation. It's that regulation needs enforcement. If no one is watching (effectively) then you can do what you want - rules or not.
- pgayed 6y agoSo, are you suggesting for every transaction between two parties there should be a third to make sure it's all kosher?
- KSteffensen 6y agoI don't think that is what was meant, but I'll bite. Ideally, yes. The trade-off in the cost of this supervision vs the value of the potential fraud (both of tax evasion and for the parties involved in the transaction) must be considered, though. And then you wouldn't have to do tax returns.....
- sgt101 6y agoI think of it more as a game of rugby. Everyone on the field knows the rules, they are all there of their own free will, they have the chance to make money. You need a referee, because if you don't have one pretty quickly everything descends into a brawl. The biggest "win" the fight, but there is no game, there is nothing for the audience (economy) and only the largest, meanest players can contribute in any way. All the value from the skilled quick players is lost, in fact all the value is lost. Next week, no one turns up.
- buran77 6y ago> So, the regulation needs regulation. Supervision is not regulation, it's the enacting of the regulation. Read it as "to regulate them well watch what they're doing". Nitpicking is a great way of showing you hold a crap hand. [from another comment] > I fail to see how regulation of regulators is somehow invulnerable to the same failures It is not, it's just more impervious because regulators by design have to work in a more transparent fashion and there is some accountability, even if at the next elections. The players being regulated are usually completely opaque and there is no real accountability. And just because something isn't infallible doesn't mean you have to throw it away. Looking at all your comments in this post it seems you have very strong opinions and you don't let facts get in their way.
- pgayed 6y agoPlease point me to the facts being presented in this thread. Nearly every comment is voicing opinion. There's no data in the commentary.
- buran77 6y agoThe definition of "fact" is also not present in this thread yet you still need to know it before jumping into a discussion. Much like the other concepts you are arguing here, starting with misunderstanding the simple concepts laid out in the first line of the study. The more things you expect to have presented for you during the conversation, the more likely it is you shouldn't actually be in it. You expect to throw the proverbial stone in the lake and everyone else to jump in and give you decades worth of education all neatly packed in a comment. Well you just got the conclusion from multiple users. Flailing about that we didn't support our opinion like it was a PhD thesis while you yourself just throw some inflammatory opinions with no qualified support inside or outside of this forum, and worse you remove text after posting, just confirms that you're not only unqualified for the discussion but are very likely carrying it in bad faith.