'the moron behind it didn't think more than one step ahead'
I think many and possibly most of these are based on regulatory capture where elected officials / regulators are ‘given incentives’ to look the other way.
Lots of seemingly stupid decisions are completely reasonable from the person who made them. All it takes is for someone to be judged just on their little piece of what happens (how much do we spend on paper) and not judged based on how much their changes hurt the corporation/overall economy etc. And before you know it, we saved 1million in ink last year at the cost of 50 million in manpower.
> Lots of seemingly stupid decisions are completely reasonable from the person who made them.
Lol, good intentions are worth absolutely nothing. Your misallocation of resources story isn't really helpful either, if you think the SEC made a great move in structuring financial instrument ratings - explain it.
I think many and possibly most of these are based on regulatory capture where elected officials / regulators are ‘given incentives’ to look the other way.
Lots of seemingly stupid decisions are completely reasonable from the person who made them. All it takes is for someone to be judged just on their little piece of what happens (how much do we spend on paper) and not judged based on how much their changes hurt the corporation/overall economy etc. And before you know it, we saved 1million in ink last year at the cost of 50 million in manpower.