Why interest groups roll right over politicians
Or: Why regulators can only take action after a popular protest.
Last week, Israel's finance minister said he might well classify the banks and insurance companies as quasi-public bodies. That would mean they'd have to consider the public interest, not only their own profits. Or, said the minister, he might classify them as "hybrid bodies," which under administrative rules would have to consider a number of things beyond profit, such as the...
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