Forum Post: Our regulators can beat yours?
Posted 11 years ago on Nov. 10, 2012, 11:16 a.m. EST by brightonsage
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United States
U.S. Securities and Exchange Commission (SEC)
Financial Industry Regulatory Authority (FINRA)
Commodity Futures Trading Commission (CFTC)
Federal Reserve System ("Fed")
Federal Deposit Insurance Corporation (FDIC)
Office of the Comptroller of the Currency (OCC)
National Credit Union Administration (NCUA)
Office of Thrift Supervision (OTS)
Financial Services Authority (FSA), United Kingdom
Financial Services Agency (FSA), Japan
Federal Financial Supervisory Authority (BaFin), Germany
Autorité des marchés financiers (France) (AMF), France
Monetary Authority of Singapore (MAS), Singapore
Swiss Financial Market Supervisory Authority (FINMA), Switzerland
How many agencies does it take to change a light bulb?
One thing with the multiple regulators in the USA - and the economic meltdown anyway and the no criminal charges anyway - and the no changes to the system to stop a continuance of economic failure - aren't they all a failure?
Well, there are degrees of failure just like degrees of success.
Well perhaps it is because this current failure is so huge and glaring - Hey?
Perhaps the regulators sank and drowned when the economic iceberg holed the USA?
Maybe it is because to too many regulators not too many regulations. The implied point is that other countries have them in one organization we have them spread out all over and they are so stove piped that they can't correlate information from multiple sources.
Could also have something to do with their funding/budget being cut.
Could be. However, if the congressmen didn't organize government so there were the maximum number departments so there would be committees for them to be on...
Sorry - lost me on that one.
Looking at the list, the US has a bunch of separate agencies dealing with the financial community while the foreign countries are regulated by a single agency. Much of the reason is so Congressmen can be the chairman of the _ committee.
AHhhh - gotcha. Yeah something they can write home to their constituents about.
Well there is an awful lot wrong in government and it ain't gonna get fixed without the people getting involved.
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