http://jutiagroup.com/2009/06/22/obama-overhaul-should-provide-better-investor-protection/ Market Jitters & Political Critters Sun, 22 Nov 2009 02:27:02 -0500 http://wordpress.org/?v=2.8.6 hourly 1 http://jutiagroup.com/2009/06/22/obama-overhaul-should-provide-better-investor-protection/comment-page-1/#comment-12142 Larry Furman Wed, 24 Jun 2009 15:09:42 +0000 http://jutiagroup.com/?p=7686#comment-12142 The regulations must have teeth, and the regulators must be independent of the entities they regulate. The Office of Thrift Supervision, OTS, does not receive appropriations from the U.S. Congress to fund its operations; instead, the entire budget of the agency is paid by assessments on the institutions it regulates. This makes no sense. If I'm paying the cops are they going to keep me on the straight and narrow or wink at my indiscretions? Or to put it another way, what would be Bernie Madoff's sentance to if the judge was on his payroll? The regulations must have teeth, and the regulators must be independent of the entities they regulate. The Office of Thrift Supervision, OTS, does not receive appropriations from the U.S. Congress to fund its operations; instead, the entire budget of the agency is paid by assessments on the institutions it regulates. This makes no sense. If I’m paying the cops are they going to keep me on the straight and narrow or wink at my indiscretions? Or to put it another way, what would be Bernie Madoff’s sentance to if the judge was on his payroll?

]]>