Great Time to Cut Operations at the SEC, Huh?
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Great Time to Cut Operations at the SEC, Huh?
“Securities and Exchange Commission Chairman Mary Schapiro warned yesterday that the agency will “make significant cuts in its current operations” this year unless Congress authorizes it to spend more money.
Responding to concerns that the agency failed to detect the alleged Bernard L. Madoff fraud, Schapiro said the SEC is working to improve collection of tips and complaints and detect wrongdoing early on.
“I do not believe it would be wise for the SEC to retrench during such perilous times in our markets,” she told a House appropriations subcommittee.”
. . . read the full article
CAF Note: So, someone made off with $68 billion, no doubt gave a small amount to Congress, Bernie took the fall with no information becoming public and the SEC is busy fighting for their lives rather than doing their job? Score one for the NWO, zero for Madoff’s investors and small investors everywhere.
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Unbelievable. Keep up the good work, Catherine. Thank God for people like you, who have the sense to see what’s really going on, and the guts to speak & write about it!
How about where they refused to disclose who shorted the market of Insurance stock on 9/11/2001 ????
SEC was a joke to begin with, now degenerated into complete travesty.
I don’t think problems at the SEC are budget related but more politically related, I’m sure their inbox is filled with viable easily verifable complaints of fraud & malfeasance while the thousands of SEC drones are out filing forms & ignoring criminal activity. Probably 80% of the SEC staff could be fired & nobody would even notice along with most of the federal govt, in fact if you fired 80% of the federal govt bureaucrats the economy would explode.