Agency Quote by Thomas Frank
“Money never seems to be interested in strengthening regulatory agencies, for example, but always in subverting them, in making them miss the danger signs in coal mines and in derivatives trading and in deep-sea oil wells.”
About This Quote
Source Book: *The Wrecking Crew*, 2008
Regulatory bodies are often undermined by the industries they oversee, leading to systemic risk.
In simple terms: Regulations are weakened by those they regulate.
Key Takeaway
Strengthen oversight independence.
Themes
regulation
corporate power
systemic risk
Mood
cautious
critical
Type
analytical
expository
When to use this quote
- government oversight
- environmental safety
- financial markets
Key Concepts
Political economy
public policy
financial ethics
Questions to Reflect On
- How can regulators stay impartial?
- What safeguards protect against capture?
A Different Perspective
Political pressure can limit regulatory effectiveness.
![“We have no clear ideas of the agency of [demonic] spirits, nor is it necessary. The Scripture says little to satisfy our curiosity; but tells us plainly that he is always watching us, and desiring to sift us as wheat. I believe we give him no more than his due, when we charge him with having a…” quote by John Newton](https://sms4smile.com/quotes/img-quotes/c75/john-newton-6629_abundance_we-have-no-clear-ideas-of-the-agency-of_2907.jpg)
