"regulators don't have the balls "
That's a little harsh. Everybody loses their balls quickly if they aren't backed up by their bosses.
That's a little harsh. Everybody loses their balls quickly if they aren't backed up by their bosses.
Side comment: The GS head of technology recently left there to go to an at-best-mediocre options brokerage recently, which I recently left. Not gonna lie, that makes my suspicio-meter go off after seeing the shenanigans they did there.
Side note again: Another thing that pushes my supsicio-meter pretty far is seeing secret service, Harry Reid and a very well known name in HFT walk into an office and talk to each other for an hour.
I don't want to come to any direct conclusions, but "People are shitty" comes close.
"Get big government out of my business!" "These regulations are killing my business!" "People are going to go overseas and do the same thing!"
It's not just congressmen too. Even the public can be turned against the regulators with a steady drip of anti-regulation rhetoric from the newsmedia.
This is a corollary of "it's twice as hard to debug something as it was to write in the first place."
If you're a peon, "doing your duty" is a great way to put a target on your back.
It seems like one of the hardest problems to solve in our society because it seems to be so tied to our nature. I can recall doing things in grade school I knew was wrong but felt obligated to do because my peers and those I looked up to do too. While that isn't the same exact situation, the dynamics at play are the same. What can be done to combat this innate in-group/out-group behavior more effectively in our organizations and society?