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Regulation

There are laws on the books worldwide that constrain the activity of corporations. The problem is enforcing them effectively, especially when the people who run the businesses can frequently persuade authorities to change the rules to suit them. We explore the role of government in setting and enforcing rules for fairness and competition in the private sector, and how the private sector manages to set the regulation agenda itself.


News Articles

U.S.: Will Wall Street Ever Face Justice?
by Phil AngelidesNew York Times
March 1st, 2012
Four years after the disintegration of the financial system, 24 million people jobless or underemployed. Yet claims of financial fraud against companies like Citigroup and Bank of America have been settled for pennies on the dollar, with no admission of wrongdoing. Executives who ran companies that made, packaged and sold trillions of dollars in toxic mortgages and mortgage-backed securities remain largely unscathed.

NIGERIA: Nigeria's agony dwarfs the Gulf oil spill. The US and Europe ignore it
by John VidalThe Guardian (UK)
May 30th, 2010
With 606 oilfields, the Niger delta supplies 40% of all the crude the United States imports and is the world capital of oil pollution. More oil is spilled from the delta's network of terminals, pipes, pumping stations and oil platforms every year than has been lost in the current BP/Transocean oil spill in the Gulf of Mexico.

US: Oil Hits Home, Spreading Arc of Frustration
by Campbell Robertson, Clifford Krauss and John M. BroderNew York Times
May 24th, 2010
More than a month has passed since the Deepwater Horizon rig blew up, spewing oil into the Gulf of Mexico and frustrating all efforts to contain it. The disaster underscores the enduring laxity of federal regulation of offshore operations and has shown the government to be almost wholly at the mercy of BP and of Transocean, the company leasing the rig.

WORLD: Disaster Plans Lacking at Deep Rigs
by Ben Casselman and Guy ChazenWall Street Journal
May 17th, 2010
Dealing with a deep-sea spill is a a problem that spans the industry, whose major players include Chevron Corp, Royal Dutch Shell and Petróleo Brasileiro SA. Without adequately planning for trouble, the oil business has focused on developing experimental equipment and techniques to drill in ever deeper waters, according to a Wall Street Journal examination.

US: U.S. Said to Allow Drilling Without Needed Permits
by Ian UrbinaNew York Times
May 13th, 2010
The federal Minerals Management Service gave permission to BP and dozens of other oil companies to drill in the Gulf of Mexico without first getting required permits from another agency that assesses threats to endangered species — and despite strong warnings from that agency about the impact the drilling was likely to have on the gulf.