Friday, April 23, 2010

Regulatory Power - To Fail?

What they've been watching wasn't the screen on the right: SEC officers caught using pornography at the workplace. Would there be a better example of government failure? (HT Selva Brasilis) According to the Washington Post:
Dozens of Securities and Exchange Commission staffers used government computers to access and download explicit images and many of the incidents have occurred since the global financial meltdown began, according to a new watchdog investigation.
The lesson from this episode is that good regulation should never rely on the infallibility of regulators.

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