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Its not confusion. I'm more qualified to talk about 'regulatory capture' than I'm leading on, but its a real question: how is moving from industry to regulation
by aggronn 14y ago
Its not confusion. I'm more qualified to talk about 'regulatory capture' than I'm leading on, but its a real question: how is moving from industry to regulation, or the other way around, inherently corrupt? I disagree that having a system with poor incentives necessarily means it's 'corrupt'. Bribery is undoubtedly corruption. But when a state power regulator lowers restrictions on pollutants and greenpeace calls foul play, how can tell that that they're doing it because they believe its prudent or because they're looking for a job?
A major complaint that a lot people have is that oh, when you leave your S&P job thats paying 60k a year for an IB job that pays 300k a year, you're a symptom of corruption. But hell, what if your experience working for S&P necessarily means your qualified to do derivatives trading?
If you're getting job offers that are conditional on you making certain regulator decisions, thats bribery. Eventually wanting to get into the business side of things because they pay more isn't the same thing.
- kamaal 14y ago>>how is moving from industry to regulation, or the other way around, inherently corrupt? Because regulations work only if regulators are honest.
- JabavuAdams 14y ago> I'm more qualified to talk about 'regulatory capture' than I'm leading on, but its a real question: how is moving from industry to regulation, or the other way around, inherently corrupt? It ignores human nature. People don't rat out their friends. If you're the jerk at the party, you stop getting invited to the right parties.