Matt Taibbi: Regulatory Capture, Captured on Video

SEC official slobbers over private equity titans, suggests his son might want a job in the field

This is courtesy of Yves Smith over at Naked Capitalism, who's been following the strange story of SEC Examination chief Andrew Bowden's evolving position on financial corruption for a while.

That story blew up recently in a remarkable public appearance by Bowden, in which the would-be enforcement official cravenly compliments the industry he supposedly polices and then — get this — jokingly puts forward his own son as a candidate for a job in private equity. On video. You won't see a more brazen example of regulatory capture anywhere.