Why “Living Wills” Fail « The Baseline Scenario

Why “Living Wills” Fail « The Baseline Scenario: "Higher regulator salaries might be nice, to make them more resistant to bribery for one thing, but they’re not necessary to generate some improvement — they just need to have the mindset that their regulatory role is useful and important. It’s not their job to make the industry happy, it’s their job to make the industry safe whether the industry likes that or not.
…All of which works fine until you get another anti-government ideologue in office, which is another way of saying that no governmental structure is proof against sabotage by its own leadership and ultimately, the responsibility for these particular failures of government rests with the electorate."