The President gets reminded to be patriotic
Dutch_Tuna: When he’s just standing he looks like a bag of potatoes. And like he hasn’t have a care in the world. Unbelievable. Very in touch with his ‘nothing box’.
TIL of Regulatory Capture, when a governmental regulatory agency ceases to promote the interest of the public, but instead does the exact opposite by advancing the commercial or political concerns of special interest groups that dominate the industry or sector it is charged with regulating.
000Destruct0: So then… America.
IronicMetamodernism: Sometimes this happens because there’s a need to employ people with extensive experience within the industry. But those people also have connections within the industry too and companies use those connections to exploit the regulatory body.
Like the FCC.
Edzell_Blue: AKA corruption.
Sigilos: FCC and Net Nuetrality
TooShiftyForYou: *Likelihood of regulatory capture is a risk to which an agency is exposed by its very nature. This suggests that a regulatory agency should be protected from outside influence as much as possible. Alternatively, it may be better to not create a given agency at all lest the agency become victim, in which case it may serve its regulated subjects rather than those whom the agency was designed to protect. A captured regulatory agency is often worse than no regulation, because it wields the authority of government.*
FCC is set up to monitor and regulate interstate communications by radio, television, satellite, and cable. Gets captured by the very people it’s supposed to regulate.
Omnomcologyst: You mean like how a shit sucking lawyer from Verizon now runs the FCC?
Shalabadoo: >TIL of Regulatory Capture
Jesus, they need to make microeconomics in high school mandatory
typeObloodsausage: One of of those excellent PBS one hour specials (sorry, it was a few years ago so I don’t have a link for you) one of the lawyers who was hired to oversee banking regulations said they witnessed first-hand how it took just a few weeks for his team to start finding “solutions” for problems they had found with the bank’s operation.
Basically, they knew that if they pressed on the problems they found, there would be massive pushback by the larger, more highly paid team of lawyers from the bank (and often by their own government supervisors who were already captured). So in anticipation of that pushback, they would hypothesize what counterarguments the bank lawyers would make, and marginalize their own arguments to avoid the showdown.
BoXoToXoB: So when do the riots start?
iamnotbillyjoel: the thing is, they still regulate, they just regulate poorly on purpose.
MomentarySpark: I think we all learned about that recently, if we didn’t know already.
johnnysexcrime: It has happened. Time for revolution.
willedmay: You’ve described the current administration
1883456: Good example are BS licensing laws, like it’s illegal to paint houses for money unless you’ve spent 4 years working doing that in nevada and cali
petewilson66: You mean like the EPA? Drain the swamp!
sissylala77: And this is also known as the FDA.
2legit2fart: See also military industrial complex.
920011: So congress abecates its responability to unelected regulatory bodies.
Industry corrupts that regulatory body by having experts with conflicts of interest hired to help regulate the industry.
American people get bypassed because congress isnt doing its job in the first place.
Congress gets an 8% approval rating.
ntw3001: >In Japan, the line may be blurred between the goal of solving a problem and the somewhat different goal of making it look as if the problem is being addressed.
So succinct, so complete. Japan in a nutshell.
fucky_fucky: Happens much more often than most people think, and is one of the cornerstones of most arguments for limited government.
Zywakem: This thing was quite a big thing in Yes Minister/Yes Prime Minister, which although satirical, is depressingly accurate.
Au_Sand: Is there any regulatory branch in the US government that wouldn’t qualify?
malvoliosf: Have any of the morons pushing “net neutrality” ever stopped to wonder if there is an alternative to regulatory capture?
I really don’t think there is. Every area of regulation is highly technical. Very few people are going to spend much time on it unless it is their job, so all the meaningful input comes from within the industry. Plus, regulators mostly are not going to want to spend their entire lives in the government — but what other job would they be qualified for.
So, every time a regulator talks to anyone, it’s either a fellow regulator, an utterly clueless member of the public, or someone from industry who is knowledgable and motivated — and his future employer.
baliball: Are you sick of the government not having the people best interest at heart due to lobbying and campaign “donation”? Come join me at /r/votersparty. We have the technology to turn every politician into a powerless figure head in the palm of our hands.
Esoteric_Erric: We talkin’ bout the dude Trump put in charge of big pharma regulations? Y’know, the guy who got rich off big pharma.
WTF America, get that corrupt twat out of office and pelt him with rotten fruit and eggs throughout the streets – he’s a horrible bastard
ritalinandsteak: I know an attorney with the IRS and he says among the management are quite a few people who were assigned to their position to drag their feet and let corporations win cases against the government in which the IRS just allows them to not pay billions of dollars of tax revenue.
zluckdog: Meredith Attwell Baker
40for: A good example of this is the auto industry capturing the US department of Transportation.
re_nonsequiturs: Been reading up on the FCC, I presume?
Bloodandhonesty: Can i get an example of an occurance?
WR810: AKA crony capitalism.
rotatingpotato12345: Why are people against regulation? -This.
Hrothgar_unbound: This is the story of the Federal Election Commission (FEC), which regulates Congress. Which designed it that way.
mellowmonk: It’s also called “bribing politicians with corporate free speech so corporate interests can get whatever they want.”
stringdreamer: Ah, bribery…the quintessential American political process.
Keats_Cybrid: I feel like I’m beating a dead horse by saying it but I really wouldn’t mind moving to a more stable country.
googleitfirst90: I like how the “Examples” section proceeds to list almost every government oversight body we have.
We need more foxes guarding that hen house.
Ifuqinhateit: Corruption is legal in America: https://youtu.be/5tu32CCA_Ig
jt42352: See American regulatory agencies
Kiaser21: It is not charged with regulating.
jeff_reniers: Oh you learned about that today did you? What brought that on?
waltdanger: Banking is the worst of this
Kazbo-orange: So..the US for the last 40~ years?
BigOldCar: Ya just learned about the FCC and the EPA, huh?
NuckElBerg: Ah, you mean like the US Government does when it comes to democracy in the US?
Xanthotic: And now you will never forget because that is the sole function of gov’t now.
txzman: Exactly describes Obama’s Nazi EPA….
iaintpaynyou: >Ajit V. Pai, a former lawyer for Verizon, is the current FCC chairman.
The models of American Gothic next to the picture
The figures were modeled by Wood’s sister Nan Wood Graham and their dentist Dr. Byron McKeeby.
Licalottapuss: The lady in the painting is supposed to be the farmer’s daughter.
He looks like an actor from the sixties. Used to be on TV quite a bit. I can’t place the name though..
CreamyKnougat: “No, sir, I am not impressed, and neither is my wife.”
“No, I’m not.”
mrshatnertoyou: They were Grant Wood’s sister and his dentist respectively, not a couple.
BadgerDancer: They don’t look happy about it. But they don’t look happy in it either.
ironman82: they dont look very goth to me