SEC’s Andrew Bowden Regulatory Capture Scandal Hits the Major Leagues with Los Angeles Times Column


Naked Capitalism has the article SEC’s Andrew Bowden Regulatory Capture Scandal Hits the Major Leagues with Los Angeles Times Column.

In yet another confirmation that blogging is not dead just because Andrew Sullivan got tired of doing it, Los Angeles Times columnist Michael Hiltzik picks up the Andrew Bowden story that Yves broke.

Lest you forget what this story is about, here is another excerpt from the above article.

Quoting Hiltziks’ regular Business section column, “The Economy Hub”:

As for “close contact and familiarity” between individuals and their regulated businesses, one need look no further than a March 5 appearance at a Stanford conference by Andrew Bowden, the SEC’s director of examinations. Financial blogger Yves Smith of Naked Capitalism, a former investment banker and management consultant, writes that Bowden “reveals himself to be captured to an embarrassing degree. His remarks about the industry aren’t merely fawning…. Bowden comes uncomfortably close to the line of offering to play the revolving door game at an unheard-of level of crassness, putting his son, and by implication himself, into the job market at an industry conference.”

The article cites a number of suggestions:

Things You Can Do

Readers, here are a few things you can do, right now, to keep this story in the public eye.

Putting this story on my blog is but one step that I am taking.

See my previous post Bank Super Lawyer, Rodgin Cohen of Sullivan & Cromwell, Says Regulatory Capture is a Myth where I gave secondary mention to article that is the main topic of today’s Naked Capitalism article.

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