All those in favor of lawlessness, please cut the SEC budget:

SEC Charges FDA Chemist With Insider Trading Ahead of Drug Approval Announcements

SEC Blocks Attempt by Connecticut Fund Manager to Divert Funds From Petters Ponzi Scheme Victims

SEC Halts $47 Million Investment Fraud at Utah-Based Payday Loan Companies

Category: Legal, Regulation

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

10 Responses to “Why the SEC needs to be well funded”

  1. plantseeds says:

    you forgot one, “SEC Closes Barn Door After Horse Has Bolted”.

  2. I’m also in favor of strong… and most importantly combative and curious SEC…

    But given the ‘capture’ phenomenon, we should greatly expand opportunities for individual bounty hunting for investigation of financial crime…

    Can be done with more electronic transparency (and there must be ways to remove and replace account identifiers with coded tags which can be re-connected to original owner if issues found)…

    Is that Big Brother? or democratizing oversight… to paraphrase: “It may take a village to oversee the financial sector!”

  3. ByteMe says:

    I can just see the next AMC Reality TV series spawned by financial bounty hunters:

    “Bill, The Bounty Nerd!”

    Skinny tie, white shirt, green eye shade, calculator with paper tape under his arm….

    You know that the corporatocracy won’t let it be overseen too closely, right, BR? That would be “bad for business” and “kill jobs” and so on. And their political lapdogs will try to tell us that the SEC is a “liberal corrupt money-wasting job-killing bloated anti-American unionized bureaucracy.” It’s political alzheimer’s… where you keep doing the same stupid thing over and over again and claim it never happened before and no one could forsee it.

  4. Ivan71 says:

    Yes, because we need more individual inside traders locked up while the big boys continue to get away daily and the sec ignores them. oh, and we need more 200k+ individuals surfing porn 8 hours a day.

  5. “you forgot one, “SEC Closes Barn Door After Horse Has Bolted”.”

    ~~

    “Yes, because we need more individual inside traders locked up while the big boys continue to get away daily and the sec ignores them. oh, and we need more 200k+ individuals surfing porn 8 hours a day.”
    (from above)

    x2
    ~~
    http://www.citronresearch.com/
    http://sharesleuth.com/
    http://thestreetsweeper.org/

    Guess What? The ‘Market’ can, and would, more effectively, Police itself, if weren’t for felonious Government Agencies (SEC, FDA, FDIC as ex.) providing soothing sounding ‘reassurances’ to the gullible — but, then the FIRE Economies (con-) “Job” would be that much harder to pull off..

  6. curbyourrisk says:

    Until I see a headline like…..”JPMorgan’s Jamie Dimon does PERP walk”…..the SEC is is nothing more than three letters that happened to stick together in my alphabet soup.

  7. NotQuiteSo says:

    The FDA insider was a particularly good find for the SEC. From the available facts it seems like this long-running and particularly disgraceful scheme was especially difficult to detect. It goes to the heart of regulatory legitimacy, too, in the sense that the insider was using privileged information from the FDA to make money. This is what the SEC should be doing and congratulations to it. A few more of these and it will convince many skeptics (like me) that it has truly changed.

  8. Lugnut says:

    tripling their budget still won’t provide them the motivation to prosecute fraud at the highest levels. Let us know when they buy a set of nads with their budget.

    PS, given the pronouncement the other week that Timmy made that we need to have a nice tidy little settlement of all mortgage fraud for all the major writers and move quitely on to business as usual, it would seem that the atmosphere of corporatism has already leakd up to the very top. Good luck SEC, your gonna need it.

  9. jjay says:

    The SEC is next to useless.
    The big players do what they want, no questions asked.
    No SEC indictments for them.
    No shutdown of Madoff even when the SEC wes presented with proof years before he imploded.
    He actually had to call the cops on himself, the SEC is so corrupt.