RSS Feed
Twitter
Facebook
Email
HomeToyota is to Wall Street as NHTSA is to SEC/FINRA
Posted by Larry Doyle on February 24th, 2010 6:26 AM |
In light of the Congressional hearings addressing the problems swirling around Toyota, I am reposting this commentary which was originally posted on February 12th.
*****************************************************
When regulators are in bed with industry, bad things happen. When regulators actually go to work for the industry, then really bad things happen.
Evidence of this dynamic on Wall Street is overwhelming. Yet, don’t think that Wall Street has a monopoly on this incest. Bloomberg highlights that incestuous activity has also played out in the disaster encompassing Toyota. Bloomberg reports, Regulators Hired by Toyota Helped Halt Investigations:
Former regulators hired by Toyota Motor Corp. helped end at least four U.S. investigations of unintended acceleration by company vehicles in the last decade, warding off possible recalls, court and government records show. (more…)
