Wednesday, May 28, 2008
Dog Bites Man!
0 commentsGee.
Some guys got greedy on Wall Street?
SEC reportedly examining Bear Stearns trading records
Who'da thunk it?
The giggle inherent in this story is how—now that they're on the way out—any functionary in a Bush 27-controlled federal agency would stomp around loudly, as if they had any interest (or strength) for actually doing their jobs.
Update: Since this story, a few former SEC heads sent a stern letter to Treasury Secretary Paulson, objecting to the Bush 28% gang's plan to re-tool and gut the SEC entirely, making it merely an advisory entity, rather than a regulatory vehicle. You know how much everyone hates those regulatory vehicles.
These former SEC heads assert that the SEC is necessary to ward off abuses of the system within the financial sector, and to punish those who muddy the pool for the average investor.
How quaint of them. They DO rather miss the whole point here, don't they?
posted by Gotham 10:10 AM
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