re: #383 Bagua

Again: BP was given exceptions by the regulators. As I said, bad regulation is often functionally deregulation; if the regulators simply wave everything through, the system acts in a deregulated fashion.

The regulators failed, and the regulation failed. But the concept of regulation didn’t fail; it proved that we need more stringent regulation, a thorough examination of MMS and especially the ties to industry, and a very thorough look at the response plans of other companies that are so disturbingly close to BPs.

If a gang of criminals plan a bank heist, and a cop fucks up the investigation and is unable to prevent the heist from occurring, it is still the fault of the criminals, and we still need cops.