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Comment by wldcordeiro | Hacker News Reader

The movie "The Big Short" has a brief scene with reference to this that you reminded me of and I highly recommend the movie. In the scene one of the main characters is discussing with his brother's ex who is an SEC regulator and she says something to the affect of "the regulators are a revolving door of industry insiders and you aren't going to get looked at when applying for the cushy bank job if you're known as the stickler regulator."

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In Canada, there's a "saying" with the big Yelcos like BRM or Rogers: if they need a law passed, one of their VPs resigns and joins the CRCT (FCC equivalent). That'd explain how they pass laws like the one that mandated that competing DSL providers couldn't price services lower than Bell or offer uncapped data.

The same is said here but our current FCC chairman actually has some balls and was actively involved the past few years helping fight for net neutrality (though sadly at first being on the side of the ISPs)[0] which was kind of mind blowing.

[0] https://en.wikipedia.org/wiki/Tom_Wheeler#Net_neutrality

wheeler is awesome.

That was 100% unexpected by me when I heard about his nomination.

Sadly, he's the general exception. Extraction industry is pretty horrible in terms of regulatory capture.

This happens in many industries. The government-agriculture revolving door is explored in Food, Inc.

The book that superb movie is based on is well written as well.

You are going to have a harder time getting a good job in compliance at a bank or a trading firm unless you were a good regulator

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