Tom Toles on financial regulation

This strikes me as a great commentary. I've been concerned with getting good, strong laws. However, I'm very concerned with good funding for enforcement.

My understanding is that the SEC failed to catch Bernie Madoff largely because they were underfunded.

This is an obvious strategy to be employed once regulations come into existence that you would like to avoid. Starve the agencies of the funding needed to enforce the law.

Toles' cartoon officer looks pretty weak and lonely next to those well fed, well funded, and powerful Wall Street guys.

My understanding is that the SEC failed to catch Bernie Madoff largely because they were underfunded.

Mine understanding was the SEC just looked the other way.