Analogies can be dangerous.
Comparing one thing to another can often leave room for criticism.
In this case, however, when it comes to trusting bureaucrats to look after your welfare and that of greater society, the rewards far outweigh the risks.
We all know that so-called watchdogs in the US failed to keep their eyes on the hen house in more than one bubble since 2000. The too big to fail, for example, in the view of many has simply led to fewer, even bigger too big to fail financial institutions.
If you read the following story you'll learn, if you don't already know, that such events given the recent Cyprus turmoil, aren't unique to the US. Boys might be boys as the old saying goes. But so are bureaucrats.
In the late 1990s the UK faced a banking crisis. Confidence waned and a new government watchdog, the FSA, was established to prevent it from happening again. The rest, as by now, you should already know.
Initials get changed, a few chairs shuffled. But business as usual prevails.
http://www.futuresmag.com/2013/03/27/fsa-fails-to-reach-16th-birthday-as-crisis-spoils?ref=hp
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