Captured Government

Captured Governmet at BubbleMeter

Yes, he seems to be an example of what he criticizes but this is what we should expect. Those who have captured power and profit in the past will complain about the system when they are thrown out by another group. The people don't really see any change, "Meet the new boss, same as the old boss".

I think the reason many Americans see government as ineffective is this recurring process of the capture of regulatory power and then, when the regulator fails to act, the extension of government, not buy fixing the existing system, but by adding additional, inefficient layers to the system. They don't see how this new layer of government will help, and rightfully so, if the first regulator was captured it's only a matter of time before the new one is rendered ineffective. The end result is an ineffective government-corporate system that spawns a new crisis every few years. The Democrats cry for more regulation, the Republicans scream that regulation doesn’t work and the whole crappy process continues.

What is needed is true government reform on a regular basis, a government operating as a business, not a bloated corporation like GM but a hungry, nimble, efficient business. One that reviews itself on a regular basis and adapts as required.

In this most recent case, the SEC (or FED, or someone) didn't do their job. Now is the time to act to build consolidated, efficient and responsible regulator. So we should

- Fire the current management and give the job to people who can handle it.
- Fire dead-beat staff to inspire the remaining staff.
- Review and fix the law so it works.
- Give the new management the power and money to enforce the law.
- Tell the new management that if they don't do the job they'll be fired (or maybe shot).
- Close the smaller competing regulators and give their jobs to the SEC.
- Again, hold everyone responsible.
- Repeat every few years.

This is the kind of “Change” I was looking for when I voted Democrat for the first time in my life.