There are many causes for this, including a nationwide patchwork of regulatory schemes that are in some instances overly permissive and in others excessively restrictive.
Both the S.E.C. chairman, Christopher Cox, and the New York Federal Reserve Bank president, Timothy F. Geithner, said that the current patchwork of regulatory agencies, much of which dates back to the Depression of the 1930s, deserved part of the blame for the yearlong financial market turmoil.
These differences underscore that, absent broader international agreements than exist at present, Arctic waters are likely to remain a patchwork of regulatory regimes.
What is clear is that the patchwork of regulatory agencies, their limited resources and lack of real understanding of what they are up against is tantamount to the Elliott Ness admonition of not bringing a knife to a gunfight.
But a "patchwork of regulatory requirements" currently in place ought to be reviewed, updated and possibly strengthened to address "low likelihood, high consequence" events like the Fukushima calamity, it says.
The compounding pharmacies are adept at maneuvering through the patchwork of regulatory peaks and valleys and state agencies charged with monitoring the pharmacies certainly simply aren't doing the "great job" that industry claims.
In Europe, a patchwork of regulatory regimes has hindered the creation of any substantial ATG networks, while satellite-based systems have until now been too expensive for short-haul routes.
Meanwhile, TI points out that a range of other problems persist with the UK's anti-corruption regime, such as the reliance on the private sector to implement its own oversight, the confusing patchwork of regulatory bodies working on the issue, and a lack of resources and legal recourse to effectively address money laundering.
The alternative — a global regulatory patchwork, with havens for leverage junkies — could be just as messy, however.
Senator John McCain FINANCIAL CRISIS "A McCain-Palin administration will replace the outdated patchwork quilt of regulatory oversight and bring transparency and accountability to Wall Street".
