Who makes the laws?

[mdlbear]

Something seems to have been missed -- or more likely suppressed -- in the current post-deregulation-meltdown media frenzy.  The  GAO's report on the FERC (Federal Energy ``Regulating'' Commission) has come in, claiming that they were ill-equipped to regulate the industry in the wake of deregulation.  That's only a small part of it.  Industry spokesdroids are often at pains to protest that no laws have been broken.  That's not surprising.

The industry wrote their own laws.

Who can afford to support lobbyists and consultants to ``advise'' the lawmakers on what laws should govern various industries?    Right:  the industries to be ``regulated''.   In some cases they even draft the laws themselves.  Maybe even most cases.  Where do the experts that serve on regulatory commissions get their training?  The industry to be regulated, of course -- there's virtually noplace else.  Note that this is hardly surprising, nor is it new.   Redevelopment agencies, zoning boards, and city councils have been run by developers and real estate tycoons for years.  

Do I think that anything will be done about it?  Well, I'm not going to hold my breath.

Comments

[marypcb.livejournal.com]

gaaah; UK governemt is starting to take people who run companies onto advisory boards at the Department of Trade and Industry...