Jeff Hauser: Paid to Regulate

Posted by admin on Sunday, May 21, 2017

Jeff Hauser Money Quote saying about acting US Comptroller of Currency, Keith Noreika that he is bad choice by Trump administration to regulate banking industry. Jeff Hauser said:
 
One week he is being paid by [banking] industry, the next he is supposed to regulate them dispassionately? Quote
 

“One week he is being paid by [banking] industry, the next he is supposed to regulate them dispassionately?” — Jeff Hauser

 

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In this quote, Jeff Hauser is expressing skepticism about an individual serving first as an industry employee and then transitioning to an impartial regulatory role overseeing that same industry.

By questioning how someone can be “paid by industry” one week and then fairly “regulate them dispassionately” the next, Hauser implies this type of “revolving door” between private sector and government raises serious doubts about the regulator’s independence and objectivity.

The interpretation is that Hauser views such an arrangement as compromising the regulator’s ability to enforce rules without undue influence or favoritism towards their former employer and its interests.

Hauser’s perspective conveys that such a situation understandably erodes public trust in the regulator’s impartiality and ability to maintain appropriate distance from their previous employer in the private sector being overseen.

The overall message is one of concern about potential regulatory capture or lax enforcement when individuals move directly from representing an industry’s interests to policing it without sufficient separation between the two roles.

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