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To: bullNbear who wrote (2074)5/19/2006 9:06:31 PM
From: rrufff  Read Replies (1) | Respond to of 2595
 
Casey At The Bat...Fated to Strike Out?
Location: Blogs Bob O'Brien's Sanity Check Blog
Posted by: bobo 5/17/2006 6:12 PM
Kathy Casey is going to become an SEC Commissioner, if Shelby has his way.

Which is bad news for everyone except for Wall Street insiders.

Picture the same lightning-like responses that Shelby possesses - able to delay and then cancel hearings on naked short selling with an alacrity seldom seen in politicians these days, a studied indifference to any and all complaints over centi-billion dollar systemic risk...my kind of guy, old Shelby is....my kind of guy...

And now Kathy Casey, who presumably is equally adept at understanding which side of the toast has the butter, will be taking over an important seat at the SEC.

Wow.

Maybe we can see the same sort of stonewalling that we've seen from everyone but Bennett on the Senate Banking Committee? Oh, wait, we already are seeing that.

Hmmm.

Is it just me, or does it seem like this problem just keeps spinning more wildly out of control, and the damage squad keeps stuffing the ballot boxes to ensure that no Mr. Smiths ever turn up in Washington?

Could you imagine what the SEC meetings would be like with Bobo sitting in? Or Patch, or Burrell, or Faulk?

Maybe we could kick it off with, "Settle the GD trades before we talk about anything else."

I suspect that would put a "chill" on the rest of our tenure.

Maybe Casey will be brilliant in her role. Or maybe we will simply continue to see the same sort of mindless obfuscation that we have thus far seen with the SEC subpoenas of the media - where Cox cut the legs out from under his enforcement division, and for all the rhetoric, has yet to let them do their jobs.

I'm going to go with, if Shelby thinks this is good, it is bad for investors.

But don't quote me on that. I don't want to get a reputation as a cynic or a skeptic...

thesanitycheck.com