|
|
Article: The CFTC and the Ritual of Reauthorization (Or How to Keep a Lot of People Busy)
- Article from:
- The Washington Post
- Article date:
- April 25, 1989
- Author:
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
|
No matter what time of day it is, sunset is always approaching
at 2033 K St. NW, headquarters of the Commodity Futures Trading
Commission.
There, as the sun threatens the horizon, teams of government
workers who otherwise could be keeping the markets safe for investors
are instead struggling through a quadrennial ritual of
self-justification known as reauthorization.
The idea is that if enough bureaucrats shuffle enough paper,
prepare and deliver enough testimony, marshal enough witnesses and
provoke enough PAC contributions, the sun will not set on the CFTC.
Sunset legislation it is called, one of those great government
reforms from the '60s. Government agencies tend to take on a ...