Wednesday, January 07, 2009

If we can't blame a regulator for failing to regulate

why bother with regulation?*

Oh yeah, and it's not like the auditors are auditing.

As long as Wall Street firms are hiring regulators and paying auditors, this will continue.

*UPDATE: Surprise, surprise, surprise, even Felix sounds skeptical of regulation. Well, maybe just the one bad regulator exception proving that regulation WORKS ...

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