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

To: Ga Bard who wrote (55052)	9/29/2001 5:10:38 PM
From: Rande Is	Read Replies (1) \| Respond to of 57584

Gary, the SEC would have to have the motivation to want to clean the markets up. . . making them safer and more equitable for the individual investor. And that is simply NOT its mandate. If you go back and read its mandate from the 30's, you will see that the SEC was created for the purpose of restoring investor faith in the markets through regulation, since the public had completely given up. . . [for more on this, see my topic entitled, "The Great Slide Of the New Millenium" in the General Discussion conference on the Rande Is. . . HOME board on Insighters. home.insighters.com ] In a way, one could think of the SEC as partly the marketing arm for Wall Street. Just research Unger and Pitt's background and you will see that this is an uphill battle for the individual investor. Pitt is considering repeal of Regulation FD. Sure. . .that's what we need. We need for companies to disclose their financials to analysts a week before the reach the public, so that prices can move whichever way without the public knowing why. Where does Washington find these so called leaders? This guy seems dead set on driving away every last investor from the markets, in my opinion. forbes.com And yet, somehow. . . they managed to hire. . .what was that number 80? I think or 65 perhaps. . . new SEC rules enforcement agents to monitor the trade talk, communities and websites on the internet. . . which as we know, are exclusively used by the small investor. And about all they can show for their efforts is having disgorged 300k from teenager Jonathan Lebed, who earned 800k with his hype tactics. . . .thus allowing him to keep the lions share of his booty. [Don't tell bank robbers those stats or they will be lined up at the door.] I simply do not believe that the SEC is TRYING to clean things up. There is no way I will believe that they are blind to what we clearly see. . . .the nonsense of Wall Street, etc. And if not, then they are simply unwilling to act on what they see. And once again, I will propose splitting up the SEC. Section 1 = Securities Exchange Regulations - doing essentially what it does now. . . regulating securities. Section 2 = Securities Exchange Enforcement - the law enforcement division Section 3 = Investor Protection Agency - A watchdog agency much like the Consumer Protection Agency, which gives the typical investor a VOICE in Washington. . . .something that Arthur Leavitt says that Individual Investors do NOT presently HAVE. Let me know if you ever wish to start another crusade. >G< Rande Is