Sounds very similar to this story[0][1]. If i recall correctly: Ambitious NY Fed employee claims she was fired because she wouldn't soften language in a report; secretly records meetings that show extreme deference to banks. The This American Life version is really great.

[0]https://www.propublica.org/article/carmen-segarras-secret-re...

[1]http://www.thisamericanlife.org/radio-archives/episode/536/t...

Very interesting stuff. Some of the better direct evidence for regulatory capture I have read.

I think $7500 is their net loss. They raised $35,452 on Kickstarter.

https://www.kickstarter.com/projects/583591444/mineservertm-...

This article makes a much better read:

http://www.wsj.com/articles/behind-the-rise-and-fall-of-blac...

A link to get around the paywall: https://www.google.com/search?q=The+Inside+Story+of+How+the+...

It doesn't need to be impossible. The problem could be designed away: on form submission send an email saying 'looks like you already have an account' or 'welcome... next steps' and just show a 'check your email' message in the browser.