This overlap encourages dodgy firms to shop around for the friendliest regulator, which is how the Office of Thrift Supervision (OTS) ended up overseeing so many big, failed companies.

• 这种监管重复逆向激励了冒险激进的企业“货比三家”后选择一家最亲善的监管机构，而这也是为什么美国储蓄管理局最终监管了那么多倒闭的大公司。