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Wesco's Annual Shareholder Meeting


Thiru
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Thanks for the link!

 

Why aren't our regulators capable of addressing many of the issues that we confront in the market today?

 

Most of them plan to go back to living off money made in the system they are supposed to regulate. You can argue that financial regulation is so important that no one in such a position should ever be allowed to do as you partially did—serve and then leave to make money in the regulated field. Such considerations led to lifetime appointments for federal judges. And we got better judges with that system.

 

So government service should be a little like a monastery from which you can never escape?

 

What you can opt to do is retire, which is pretty much what our judges do.

 

We recently had a discussion about that issue (in a thread about Patrick Byrne comment on a top SEC lawyer who leaved for private practice). That's exactly what I've underlined. The line between SEC pratice and private practice is too thin and it create some sort of incentive to not be too harsh with your opponents.

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