Originally Posted by
DaveReidUK
You're probably right.
But what's really needed is an in-depth look at the (changed) relationship between the regulators and the industry (by no means confined to the USA).
Regulatory Capture.
Partnerships with regulators.
Steak dinners, self regulation.
Soft corruption abounds.
Revolving doors between the regulator and industry. Just look at Aii Barhrami
As Charlie Munger says, Show me the incentive, I show you the outcome.