TRN: Who regulates the regulators?

Look around the world. The Western world that is most influenced by US economic thought, right, the Brits, the Spanish, the Greeks, the Latvians, the Icelanders, they all had their own versions of this crisis, not driven by the US crisis, but driven by these perverse incentives that I've talked about and this belief that you didn't need to regulate or supervise. - William K Black