Those who believe the Securities and Exchange Commission has been particularly ineffective in the past few years might be relieved to know that the SEC is taking the bold step of trying to reorganize its office space to improve operations.
It seems that a few years ago, when the SEC moved into its fancy new building, someone had the bright idea of mixing up staffers from various divisions on each floor. It’s the kind of idea you hear from consultants all the time. If a firm puts everyone who works on the same thing together, your corporate culture is fractured. You’ll get more value out of putting together people with very different jobs. That’s the idea anyway.
Of course, it didn’t work. The SEC discovered that people from the same divisions who needed to work together stopped communicating with each other because they rarely saw each other. That no doubt damaged their ability the properly regulate equity markets.
The cost of the reog? Well, that’s around $1.4 million of taxpayer money.