Born into a Big 5 investment banking family, I quit organized financial racketeering to go straight. MacDougal Irving is my Blogger Protection Identity, and I am a retired Certified Public Accountant and, like all of us, a badly misinformed investor. These are my observations on capital market cons as they were explained to me across the dinner table as a kid.
Prize
........... Recipient of the 2010 MacDougal Irving Prize for Truth in Market Manipulation ...........
June 6, 2014
Latest SEC Lip Service
It's been a tad over four years now since the May 2010 "flash crash" showed stock market participants, among other things, just how poorly stock market regulators can regulate the stock market, and in a speech yesterday the U. S. Securities and Excuses Commission (SEC) Chairbimbo, Bloodbath Mary Jo White, proclaimed that she's been thinking about maybe proposing stuff, some day, possibly, to somebody, maybe her SEC buds so they can think about proposing stuff too, some day, possibly. Nothing in her prepared remarks gave Wall Street victims hope that big-time Wall Street perps would ever be fingered for criminal activity on Wall Street, or that any crime-stopping would ever take place there, like through the end of time, and Bloodbath neglected to explain 1) why law enforcement lets Wall Street arch-villains take down the entire global economy with brand new Wall Street crimes every damn time and never end up in the slammer, or 2) just what these brand new Wall Street crimes are anyway, like brand new right now today, like specifically, so a body can save his own ass if her pathetic kind isn't going to do it for him.
Reuters covered the babbling bimbo's blather. If you can stomach more same old, same old from the mouthpiece for the single most ineffective Government arm in the history of ineffectiveness, here's the dumb link:
http://www.reuters.com/article/2014/06/05/us-sec-markets-idUSKBN0EG2AR20140605