alt Hacker NewsI was talking about the broader way things work, not necessarily for the SEC specifically - although they’re also subject to this phenomenon. Lobbying in America, and the revolving door between industry and government agencies, is a core part of American politics and economics. Long before the Trump administration.
Again, it was not always this way. It's like saying drownings happened before the tidal wave, so it's always been this way.
People will put up any defense against facing and acting on the reality of their situation.