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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: JD who wrote (23062)	4/1/2000 12:15:00 AM
From: Tradelite	Read Replies (1) \| Respond to of 57584

<<In Washington DC, the voice of an individual investor is overwhelmingly drowned out by the thousands of siren songs being sung by the security industry's lobbyists (you know how to recognize them - look for the wads of campaign donations clutched in their grubby little hands!)>> _______ I'm just as much against stock market manipulation as the next person, but I also spent 18 years working on the staffs of political appointees in a federal regulatory agency before going into the private sector (real estate). I don't find much credibility in your statement about "security industry lobbyists" influencing the SEC. This can't happen, because the SEC gains nothing from kow-towing to the wishes of lobbyists. On the other hand, members of Congress DO gain something from kow-towing to lobbyists, but members of Congress don't have much influence over the enforcement activities of federal regulatory agencies when the rules are in place. Congress can have some influence over the rules the agencies must enforce, but to my knowledge, Congress hasn't done much to weaken the rules enforced by the SEC. Why would it? Conversation on this issue should be backed up by more facts about the legislative and regulatory process than are evidenced in your post. Can you explain specifically where lobbyists have influenced the power or the actions of the SEC? My personal opinion is that the SEC is probably doing all it can with the limited resources available to it in terms of staff and money. This is the case with all federal regulatory agencies which live or die by their budget restrictions.