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Who makes the laws?
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.
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.
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