第一段是说一个efficient self-regulated market 应该具备3个条件，然后就说股票市场达到了第一和第三个条件，但是未必能达到第二个条件(regulator has motivation to regulate the market)
第二段就分析说表面上看来，股票市场其实是达到了第二个条件的。但是如果board of governance 觉得这个条件和他们自己的利益有冲突，他们就未必会履行他们的责任。
问题有 1) 作者对于股票市场的看法 2) 在什么情况下board of governance will fail to 履行他们的责任
作文 argument: credit executive plans to make a donation to an environmental organization so the company can use its logo on it's credit card. since a survey suggests the most people are concerned with environmental issues. the credit card company thinks by doing this, they will enable the company to get more people use the credit card and charge higher interest rate.
issue: a group or an organization should work in a team environment with everyone makes decisions and shares responsibility. a person with centralized authority and responsbility will not be effective to get work done.