Carmen Segarra shows ASIC a way out of the shambles

We all hoped that regulators would learn something from the catastrophic mistakes that produced the Global Financial Crisis. The September 26th episode of This American Life, covering the case of New York Federal Reserve employee Carmen Segarra, shows that regulators fully understood the changes they needed to make. It also reveals how they have been utterly incapable of making them. There is no better window into why ASIC is a pushover for the big banks, which is why the lack of local coverage of the story is mystifying. There are many problems with our financial regulators, but the biggest is how...

We all hoped that regulators would learn something from the catastrophic mistakes that produced the Global Financial Crisis.

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