Earlier quoted context omitted.
I never said it was a dichotomy. Just because I presented an opposing side of an issue does not mean that I'm presenting a dichotomy. One of the reasons that people are pulled from industry to fill these roles is because there is a view that they will understand the issues at play. This is true. We don't want people making policy decisions on issues that they barely understand. At the same time, it becomes the incest…
Well yes, "flip side" implies a dichotomy. What's the middle-ground of a coin's faces? It's not helpful to characterize alternatives as naive, ignorant, or Ludditic. The question is not one of naivety, but of actual policy, which is the stuff that affects all of us. How would the work of an outsider (or statutory redshirt) differ from a revolving-door candidate, one whose foundation is sell side? Seeing that we have…
My thought is that saying someone can't work in the industry for 5 years prior might help with breaking up regulatory capture to a certain extent, but could have consequences on the people filling the role actually understanding the issues at hand.
Your view seems to be closer to, "things are bad now, so we certainly can't do any worse." My view is that if we're going to make the effort to fix things, let's think things through rather than throwing things at the wall to see what sticks.