Poor Regulatory Oversight
June 10, 2008 6:00am by Barry Ritholtz
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Even funnier — and truer — would have been a final panel declaring that the poor regulatory oversight is yet one more proof for getting rid of government regulation entirely.
By ‘truer’, I meant truer of a certain, well documented point of view associated with Wall St.
The 1920’s had even less regulation and set us up for the 1930’s. Doesn’t that and our present situation suggest “less or no regulation” will lead to more of the same bad outcomes?
There’s a huge arbitrage play out there waiting to be exploited. Executives are being paid obscene amounts of money to make multi-billion dollar mistakes. I’m sure people could be hired to make big mistakes for MUCH less money.
It’s the “You failed to stop me, so it’s all your fault” philosophy.
Or the ‘Animal House’ variant, “You f*d up – you trusted us”.
Corporate executives frequently resemble preschoolers when making excuses.
Reads like an Economist editorial.