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Saturday, December 13, 2008

Where was the SEC?

The State claims that we cannot be safe without its protection. When there is an economic slowdown, the state leaps into action proclaiming the need for regulation. Our minister of finance has proclaimed the need for one federal securities regulator, presumably because the Americans have one single regulator.  Apparently the U.S. SEC has been such a great job that they somehow missed the largest Ponzi scheme in history (no jokes about the federal reserve please) that may have cost up to $50 Billion! So much for the single regulator doing a great job. Now imagine our federal bureacrats keeping us safe.

Posted by Moin A Yahya on December 13, 2008 in Current Affairs | Permalink

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Comments

The SEC did what it should have been doing, refereeing college football games between Alabama, Auburn, Tennessee, Vanderbilt, South Carolina, Arkansas, Louisiana State, Mississippi State, Ole Miss, Georgia and Florida.

Oh, right, wrong SEC.

Posted by: Zebulon Pike | 2008-12-14 6:50:45 AM


Perversely, government institutions grows through failure while companies in a free market grow through success.

Posted by: Matthew Johnston | 2008-12-14 11:26:57 AM


The SEC did what it should have been doing, refereeing college football games............
Posted by: Zebulon Punk | 14-Dec-08 6:50:45 AM

That's lame even for a lametard like you.

Posted by: The Stig | 2008-12-14 1:59:32 PM


Where was the SEC? Apparently the U.S. SEC has been such a great job that they somehow missed the largest Ponzi scheme in history..............
Posted by Moin A Yahya on December 13, 2008

Bernard L. Madoff Investment Securities LLC was a private hedge fund and essentially outside the jurisdiction of the SEC.

Posted by: The Stig | 2008-12-14 2:05:35 PM


What's the SEC all about? Watch this:

http://www.youtube.com/watch?v=vi7Qlsy2Oo4

Posted by: Zebulon Pike | 2008-12-14 3:28:40 PM


"the largest Ponzi scheme in history (no jokes about the federal reserve please)"

So jokes about Social Security are permitted?

Posted by: Kalim Kassam | 2008-12-14 4:45:04 PM



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