If Cox and the SEC Were Private, Would They Be Found Negligent and Liable?

"I love your blog!
I'll keep reading as long as you keep blogging" - - - Rick

"I continue to enjoy your blog.
It's excellent." -- Rodney Hide, Member of Parliament, and Leader of the ACT Party, New Zealand.
"I now live, breathe, and occasonally poo economics..." — former student

For Upscale Clothing on-line,
Visit www.Blaec.com

Contact Information
Facebook: John P. Palmer
My Academic Website

My Personal Website

My Profile

"We saw a lot of road kill and thought of you." —my sister

Podcasts of My Intro Economics lectures
(in .wma format)
For my 2005 Radio Economics MP3 podcasts, go to the bottom of the page that lists the lecture podcasts.

Canada

United States

Israel

Learn to become a successful trader in the stock market. Learn about bettertrades strategy here.

Getting a St louis payday loan is quick and easy. Get check payday loan from a trustworthy online company.

About

Blog powered by TypePad

« Le Deal: a fascinating story of hubris and business | Main | United Nations' Duplicity about Human Rights in the Middle East »

December 17, 2008

If Cox and the SEC Were Private, Would They Be Found Negligent and Liable?

SEC Chief, Christopher Cox has admitted that the SEC was negligent in its failure to follow up on reports about Madoff's ponzi scheme as early as 1999. The apparent extent of their negligence raises the question of whether government officials face sufficient down-side incentives when they are negligent.

Posted by EclectEcon on December 17, 2008 at 09:16 AM in Economics, Gubmnt | Permalink

TrackBack

TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00e54ecbb69a88330105368233cc970c

Listed below are links to weblogs that reference If Cox and the SEC Were Private, Would They Be Found Negligent and Liable?:

Comments

You can follow this conversation by subscribing to the comment feed for this post.

That reminds me of Megan McArdle's description of bureaucrats. Paraphrasing:

"Bureaucrats are just as stupid as everyone else. Only they have bad incentives."

There's evidence (Mizrach and Weerts, 2006: ftp://snde.rutgers.edu/Rutgers/wp/2006-01.pdf ) that suggests the market punishes malfeasance a lot more seriously than does the government.

Posted by: Ironman | December 18, 2008 at 12:05 AM

The comments to this entry are closed.

Economists are Gods --- J.B.

"Palmer's is one of my absolute favorite econ blogs." -- Ian

Note: I do not necessarily endorse any of the products advertised on this site.

I love your blog! It is the first one I read every day -- Eric F.
C'est la vie.
C'est la guerre.
C'est la pomme de terre.

Always an informative, interesting and sometimes even amusing read! —BBS

Click here to order from Amazon.ca

"I really enjoy your site, and I'm planning to assign your blog to my students. I love to find "real world" examples to supplement the text, and your blog is terrific for that. Thanks for writing it!" -- J.A.B.