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tsuomela : regulatory-capture   31

Inside the New York Fed: Secret Recordings and a Culture Clash - ProPublica
"A confidential report and a fired examiner’s hidden recorder penetrate the cloistered world of Wall Street’s top regulator—and its history of deference to banks."
the-fed  banking  regulation  regulatory-capture  failure  too-big-to-fail  economics 
september 2014 by tsuomela
UnderstandingSociety: Regulatory thrombosis
"What this all suggests is that the U.S. government and our political culture do a particularly bad job of creating organizational intelligence in response to crucial national challenges. By this I mean an effective group of bureaus with a clear mission, committed executive leadership, and consistent communication and collaboration among agencies and a demonstrated ability to formulate and carry out rational plans in addressing identified risks. (Perrow's general assessment of the French nuclear power system seems to be that it is more effective in maintaining safe operations and protecting nuclear materials against attack.) And the US government's ability to provide this kind of intelligent risk abatement seems particularly weak."
book  review  disaster  risk  government  regulation  regulatory-capture  business  congress  failure 
july 2012 by tsuomela
Eyes on the Ties » a blog by LittleSis » Blog Archive » Scrutiny of Goldman’s Role in Greek Debt Crisis Intensifies in US
Goldman Sachs appears to be testing the limits of its special talent for avoiding all accountability following revelations of its role in exacerbating the Greek debt crisis.
business  finance  wall-street  country(Greece)  debt  crisis  recession  regulation  too-big-to-fail  regulatory-capture 
march 2010 by tsuomela
Fair Game - Who Will Rein In Those Credit Default Swaps? - NYTimes.com
Gretchen Morgenson on the lack of reform in the credit default swap market - including it's impact on the crisis in Greece.
recession  economics  cds  credit  debt  reform  country(Greece)  regulatory-capture  regulation 
march 2010 by tsuomela
Open Left:: A Different America -- The Situation of Economic Polarization
The broader tendency to ignore situational factors in favor of dispositional ones--not just at the level of individual perception, but as a general pattern of human cognition--has emerged as a central subject
fundamental-attribution-error  psychology  situationism  disposition  attribution  bias  deep-capture  regulatory-capture  ideology  politicians  politcal-science 
september 2009 by tsuomela
How Long Does Experience Keep a Dear School, Anyway? § Unqualified Offerings
I’ve become a pessimist. I think our future is Argentinian: a nation’s elites can have very nice lives for themselves if the commonality is financially secure and healthy, but history shows that a nation’s elites can have very nice lives for themselves even if most people live crabbed, fretful existences. You just need more security guards or, if necessary, paramilitaries.
gloom-and-doom  pessimism  about(BarackObama)  america  future  politics  elites  regulatory-capture  rent  class 
august 2009 by tsuomela
Filling the Financial Regulatory Void « The Baseline Scenario
I would argue that the fundamental flaw in financial regulation is that it is based on the assumption that regulators are not self-interested individuals like the rest of us. We think about regulation only in terms of how to engineer the incentives of the regulated and ignore the fact that regulators themselves rarely have a stake in doing their job well, which in any other occupation would limit the motivation and types of individuals a position attracts.
government  regulation  regulatory-capture  reform  failure  banking  finance  financial-services  incentives 
august 2009 by tsuomela
Matt Taibbi - Taibblog - The real price of Goldman’s giganto-profits - True/Slant
Taibbi gives a good rant on the subsidies that boosted Goldman Sachs profits to record levels.
business  business-as-usual  economics  regulatory-capture  banking  finance  profit  subsidy  rant 
july 2009 by tsuomela
Jeffrey Sachs: The Geithner-Summers Plan is Even Worse Than We Thought
Two weeks ago, I posted an article showing how the Geithner-Summers banking plan could potentially and unnecessarily transfer hundreds of billions of dollars of wealth from taxpayers to banks... Insiders can easily game the system created by Geithner and Summers to cost up to a trillion dollars or more to the taxpayers.
economics  banking  bailout  regulatory-capture  insider  gaming-the-system  gloom-and-doom 
april 2009 by tsuomela
FT.com / UK - The inside story on reforms is that there is no story
"I've been calling around to get a sense of the progress being made on structural reforms of the US securities markets. The answer is: very little, if any. The inside information I can whisper to you is that the inside has no information."
gloom-and-doom  finance  regulation  regulatory-capture  government  failure 
february 2009 by tsuomela
The Big Fix - Can Barack Obama Really Transform the U.S. Economy? - NYTimes.com
Overview of the current challenges and thoughts about economic policy by David Leonhardt. Medicine, education, energy. Name checks Mancur Olson and the idea of regulatory capture by interest groups.
economics  crisis  stimulus  bailout  policy  politics  medicine  environment  education  energy  regulatory-capture  interest-groups  power 
february 2009 by tsuomela
Should Environmentalists Fear Cass Sunstein? - Environment and Energy
To correct this imbalance, the next president should issue an executive order reforming how OIRA conducts its business. IPI has released a set of needed reforms to achieve balanced cost-benefit analyses. Reforms include increasing transparency, reviewing deregulation and agency inaction, ensuring that costs of regulation are not overestimated, and taking distributional effects into account. All of these changes would signal President Obama’s commitment to a more reasonable and just system of regulation. Sunstein’s appointment makes clear that Obama wants change at OIRA—he is too talented to be wasted in a business-as-usual role in the next administration. But the task of reforming cost-benefit analysis, removing its biases, and reforging it into a neutral tool for sound policymaking, all while promoting a strong regulatory agenda in a time of economic crisis, will not be easy.
regulation  government  regulatory-capture  reform  cost  benefits  analysis 
january 2009 by tsuomela
Bush Rule Changes Could Block Product-Safety Suits - WSJ.com
Bush administration officials, in their last weeks in office, are pushing to rewrite a wide array of federal rules with changes or additions that could block product-safety lawsuits by consumers and states.
government  regulation  executive-branch  people-georgebush  corruption  regulatory-capture  business  business-as-usual 
october 2008 by tsuomela

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