Yep, there are problems there too, the point of my post was to refute the parent's opinion that the market would naturally take care of it.
I'm afraid I don't have a good solution short of some way of screening for only people who are allergic to cronyism.
Thanks for the link on Regulatory capture, I didn't realize that that phenomenon had a name, but I'm glad it does. It's one of the more infuriating things about the US government and the SEC in particular when it seems to handle lots of things with kid gloves when they should be prosecuting them with all the zeal they seem to have for prosecuting minor drug dealers.
I'm afraid I don't have a good solution short of some way of screening for only people who are allergic to cronyism.
Thanks for the link on Regulatory capture, I didn't realize that that phenomenon had a name, but I'm glad it does. It's one of the more infuriating things about the US government and the SEC in particular when it seems to handle lots of things with kid gloves when they should be prosecuting them with all the zeal they seem to have for prosecuting minor drug dealers.