What do we think of when we hear words like "Regulation" or "Oversight" ? Who is responsible for "Risk Management" and "Controls" ? How are "Assets" to be valued ?
Welcome to the land of the brave and free where each of these words have seemed to mean nothing. From the DotCom crisis to Enron and WorldCom to the Housing Crisis to Bank Failures. Welcome to the land of Enterprise and the Individual being more important than the Society.
And that is the sort of Economy that the U.S. wanted / still wants the rest of the world to be ?
Jonathan Weil frames the situation well "Cops Get Caught Eating Doughnuts". "Never has it been more evident that the SEC and other government agencies think their job is to protect financial companies and financial executives, rather than the investors they rip off. "