Is Wall Street Too Close To Regulatory Agencies?

Is Wall Street too close to its regulatory officials and agencies? The question comes up when financial calamities occur.

Particularly because officials of major brokers and investment bankers in Wall Street are often recruited to become regulators.

But who, then, has the needed experience?

Unfortunately, we too often have bureaucrats and politicians in Washington who enact or supervise what affects mega-business operations. Despite the fact they have never successfully operated a business or financial entity on their own.

You have an example the way banks were pushed to accept subprime loans in order to have folks get homes they never could afford.

All because of populist political ideas.