Brain Dropping #39
MARVEL COMICS presents its new Super Hero – THE REGULATOR!
Unobtrusively dressed in a dark blue suit and carrying a black leather attache case, THE REGULATOR investigates and punishes wrong-doers in the crime-ridden financial racket. With his faithful companion and enforcer G-MAN, THE REGULATOR exposes the malfeasance and chicanery so rife in the upper echelons of Big Business. Among his extraordinary powers is the uncanny ability to detect bullshit and fraudulent book-keeping. After decades of study in the Mysterious East ,THE REGULATOR has developed the ability to resist the blandishments and corruption to which his many predecessors had succumbed. In the arcane ritual of the revolving door too many of his past colleagues had made a pact with the devil, allowing scammers and Ponzi schemers to walk away with miniscule fines and no admission of guilt. THE REGULATOR, against great odds, in his never ending battle to protect the small investor and the taxpayer, maintains his independence and integrity against Regulatory Capture by mammoth banks and sinister CEOs holding out the promise of seven figure jobs and a corner office.
The forces of evil arrayed against THE REGULATOR are resolute, and their names are legion: Bank of America, caught red-handed breaking the law countess times, suffering no prison time and fines written off as the cost of doing business – The Carlyle Group, accused of collusion with other vulture private equity firms to drive down the cost of hostile take-overs, charged a relatively small fine, no one prosecuted. – Hyundai Corporation, fined a just about invisible $17.4 million for not promptly reporting serious brake problems. – General Motors fined the maximum allowable penalty of $35 million, yes just $35 million, for not reporting an ignition switch problem for ten years, resulting in 13 deaths, no one prosecuted – A boom in acquisitions and mergers taking place against the best interests of the consumer – Comcast’s bid for Time Warner for instance. – The burgeoning sub-prime auto loan racket echoing the mortgage loan debacle. Auto finance crooks are not covered by the Consumer Financial Protection Bureau created by Dodd/Frank. You can thank auto industry lobbyists for that.
Unfortunately, the first paragraph above about THE REGULATOR hero, is a hoped-for daydream – a desperate fantasy borne out of a seemingly irreparable reality. Looking for a REGULATOR who will buck the system, and expose the conflicts-of-interest of his bosses – a whistle-blower who will stand up against the power of the Oval Office and the submission of the Attorney General, is like looking for that famous needle. How does all this affect our lives? I’ll leave you with this news item: President Obama has appointed Michael Taylor, former VP and head lobbyist for Monsanto, to be a Deputy Commissioner for the Food and Drug Administration. That swishing sound you hear is the revolving door. GMOs anybody?