SEC Gone Wild

Quote from piezoe:

Maybe not, though it seems so. Not saying anything about the merit, but this is how capitalists use regulation and the government to make money for the corporate sector. Like it or not, that's how it works. All of those electronic packages bought will profit the companies supplying them. Money will be transferred from aircraft owners to the corporate aircraft instrumentation sector sector by this mechanism. It's an ill wind that doesn't blow someone some good.

Another example among an endless number, when home wiring went from two wire to three, billions were eventually transferred from individual pockets, i.e. homeowners, to the corporate cable and wire industry. Overnight they began selling 50% more wire. Again, no comment on the merit, other than to note that the best, and unassailable argument for selling these money making schemes via regulation and codes is always "safety".

Great post, you basically nailed it. I'd label it as symptmatic of "crony capitalism" or the "kleptocracy". It's a fail safe "spending device" to ensure some constant demand and to curry political favor. I hate it just as much as the next guy, but I've been watching this sort of shit become so commonplace that I hold absolutely no illusions about the reality of how things work in the "real world".
 
Quote from Lucrum:

I read last year I think it was the FAA has projects underway that are a decade or more behind schedule and billions over budget.

By the time they get through screwing around their project is already obsolete.

Not suprised. When private sector demand dries up, we see the public sector get "real busy" with their pet projects to always ensure that their budgeting gets increased. Remember all those stories in the 1990's about how certain departments HAD to figure out ways to burn cash or else have their funding requests negated in future years. It's all about waste, so as to have a continual amount of funding allocated towards whatever pet project comes along thru the pipeline down the road.
 
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