Back in late 2017, the Treasury department wanted to label MetLife as “too big to fail”, similar to banks, The Administrative Procedures Act requires a cost-benefit analysis to be performed. In the case of MetLife, no such analysis was ever done. MetLife sued and eventually won.
Recently, the New York Stock Exchange (NYSE) has sued the SEC to stop a new rule the SEC has imposed. In part, the suit says the SEC did not adequately perform a cost-benefit analysis.
The issue 2setsofrules has with all of this is in the case of MetLife, they won their suit and ultimately, were not declared “too big too fail”. However, what consequences were there to the Treasury department for failing to obey the law in the first place?
In other words, what laws can 2setsofrules break and when caught, just hope to prevail in a lawsuit and if I don’t win, life just keeps going on.
When conservatives talk about the swamp in DC, this is a prime example.
There has to be consequences for employees and government departments other than just being forced to obey the law !
If ever there was an example of two sets-of-rules, this is it.