Is this the death of the SEC? - Business, Finances and Investing Forum

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Is this the death of the SEC?

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02-10-2009 , 10:27 AM

RollinHand

Carpal \'Tunnel

Join Date: Aug 2005 Posts: 9,382

A byrocratic institution at it's best.

Quote:

Congressman Gary Ackerman's anger erupts on Security Exchange Commission Members during hearings about the Bernie Madoff scandal.

http://www.youtube.com/watch?v=Ys83o...eature=related
Here is the full "bale out":
http://www.youtube.com/watch?v=FOKSkaQoF_I

The SEC is like a broken seatbelt or a parachute with holes in it.

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02-10-2009 , 11:35 AM

JJSCOTT2

old hand

Join Date: Sep 2006 Posts: 1,327

byrocratic eh?........and probably not

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02-10-2009 , 12:40 PM

Nielsio

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Join Date: Aug 2005 Posts: 23,398

lol.

He ultimately blames them, but does he blame central planning or not?

Why is this in BFI btw?

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02-10-2009 , 01:19 PM

RollinHand

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Join Date: Aug 2005 Posts: 9,382

SEC > Business, Finance, and Investing ?

But you are right probably more of a political topic but I didn't want the people posting here to miss this gem. I think Gary Ackerman is right when he says that the public has lost confidence in the markets regulated by SEC. They do such a horrible job and they can change the rules when they feel like doing so (ie banning shortselling).

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02-10-2009 , 05:42 PM

ArturiusX

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Join Date: Sep 2004 Posts: 19,114

I think you're preaching to the choir here.

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02-10-2009 , 05:45 PM

RollinHand

Carpal \'Tunnel

Join Date: Aug 2005 Posts: 9,382

That's good, I'm glad to hear that.

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