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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Broken_Clock who wrote (393385)8/28/2009 10:03:41 PM
From: Giordano Bruno  Read Replies (1) of 436258
 
zerohedge.com

As a reminder, The SEC's budget is nearly $913 million dollars, spread over 3,600 people, or over $250,000 per person. Judging by the SEC's phenomenal historical performance of achieving absolutely nothing aside from catching one plane-jumping self-admitted ponzier, and allowing the Bank of America bonus lawsuit to take a few too many turns for the surreal, it is a practical certainty that Wall Street will make sure D.C. allocates a few extra billion to keep the SEC happily efficient in its track record of catching exactly zero notable Wall Street based criminals. After all, that's what shareholder/taxpayer subsidized fines are for.

Also the below interview with the head of the SEC has exactly zero mention of instituting the downtick rule for buying stocks, or the fact that 4 stocks now account for 30% of the NYSE volume: a perfectly normal occurrence in the eyes of former FINRA head
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