Wall Street Regulators Still “Funded At A Level To Fail”
US securities regulators are falling further behind the market when it comes to technology investment, and the investment advisers and swaps dealers they oversee are likely to remain largely uninspected.
Via Moyers & Company:
In 2011, the government’s Financial Crisis Inquiry Commission issued an exhaustive report on the roots of the 2008 crash. It concluded that lax regulation and the inadequate enforcement of existing regulations lay at the heart of the meltdown.
More than 30 years of deregulation and reliance on self-regulation by financial institutions, championed by former Federal Reserve chairman Alan Greenspan and others, supported by successive administrations and Congresses, and actively pushed by the powerful financial industry at every turn, had stripped away key safeguards, which could have helped avo...