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Finance & Accounting
Pages 3 (753 words)
Inside Job Capture of the government and academic sectors by the U.S. financial industry It has been observed that high ranked Federal government officials as well as the researchers in the academic sectors are influenced by the financial industry in US. The capture of US government officials leading to activities that serves the interest of the US financial sector instead of their roles and duties towards the welfare of the public could be termed as regulatory capture…
Thus its is a failure on the part of the government in promoting welfare of the public by holding a non-biased and wider view towards all sectors of the economy. The financial industry in US has a high stake in the outcome of the regulatory policies framed by the US government. The other industries in the economy of US have a comparatively minor stake in the outcome of the regulatory policies of the Federal government. Thus the financial industry tries to maximize its gains and profits that are influenced by the regulatory polices of the US government. In their plight of maximizing the gains of the financial industry, the high ranked Federal government officials who are at the helm of their political tenure are influenced by the financial industries. The government officials were originally stakeholders of the financial industry could align themselves with the intentions of the industry. As a result of this, the US government officials are captured by the financial industry and the policies are also influenced to their advantage and thereby ignoring the interests of the general public. ...
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