The important thing to understand is that there are a wide range of policies offering different degrees of security, but allpreferable to taking the chance of being financially decimated.
And it would certainly be preferable for the government to adopt all of the Neill proposals than to delay legislation or dilute the recommendations which cause it difficulty.
We all agree however that both such schemas are much preferable to the shareholder value theory, which is both practically and theoretically unsound, and which leads to so many negative results in so many different areas.
White should also recognize that the SEC faces the same talent pool issues as do all federal bureaucracies: Is it preferable to hire some Ivy Leaguer from a white-shoe law firm for three years or to reward and cultivate the hard work of an SEC employee seeking to make a career in regulation?
Working part time is certainly preferable to not working at all, but it's tough to pay the mortgage, energy, medical and grocery bills with a 20-hour-a-week job.