From Bob O'Brien - I hope that many out there are reading his daily blog.
In related news, Senator Grassley indicated that the info he's gotten to date confirms Aguirre's accusations that the SEC, rather than policing and investigating Wall Street bigwigs, instead acts as a personal concierge service for them, ensuring that their stay here is a pleasant one and that they aren't disturbed by things like insider trading investigations.
Here's the language Businessweek uses:
"Sen. Charles Grassley, R-Iowa, said in an interview that "we're expecting early next year to have all of this wrapped up." He said the evidence turned up so far in the investigation into SEC's probe of Pequot Capital Management was generally "supportive" of accusations by a former SEC enforcement attorney."
Generally supportive? Huh? Is that like saying it shows he was telling the truth, and the SEC was lying? In the way that gravity is "generally supportive" of things falling down, or footage of the killing fields in Cambodia is "generally supportive" of genocide?
Fortunately for the SEC, nobody seems to care that the rot is now bursting forth in pustules of corruption, for all to see. A new, bought and paid for Democratic Congress will replace the bought and paid for Republican majority, and business will continue as usual. How do I know?
Show me one article on the SIA spreadsheets. The one showing NYSE member firms' fails totaling over $63 billion, after pre-netting conceals a ton, and not counting any of the international clearing and netting.
You won't be able to. There aren't any. And Wall Street's solution to being caught red-handed stealing hundreds of billions is to recommend doing away with that nasty old SEC acting as a cop, and instead have them act as the policy-setting Federal Reserve Board, which oversees the one of the largest private corporations in the world - The Federal Reserve Banking System. How nice. So the SEC, which was set up to stop the crooks from ripping off investors, should behave more like the steering committee for our private central bank than as a police force chartered with stopping the crooks from brutalizing the country.
Maybe equip them with Nerf bats and have them swat errant billionaire brigands as they drive by in their Maybachs? That would show them. |
