Ode to the SEC

Why is it we live in a country where we reward failure? Isnt this going to ultimately be the downfall of our country? I mean if you can screw up and get rewarded then why do anything right? Ill list some examples here. On 9/11 we saw more F ups in a plot that wiped out over 3k people. Yet no one lost their jobs? Why is this? Instead we get the Dept of Homeland Security which brought us the great results of Hurricane Katrina. The Federal Reserve who has caused the ruin of our dollar and really one of the major causes of the current financial situation we see here. Once again no one loses their job and now the government wants to give them more power even as Alan Greenspan goes on capital hill and just say "oops I messed up" Then Timothy Geithner who is a big part if the big financial bailout gets a nice promotion into the Obama administration. You have the pure and I mean pure incompetence of the banking industry and once again instead of failure they get a bailout.

The SEC who has failed numerous times in cases like Enron, Worldcom, and the latest F up the Bernie Madoff scandal. Once again no one loses their jobs and instead we are now talking about giving the SEC MORE money and MORE power. What????? In fact the lady who ran FINRA who is supposed to be regulating this crap gets a big promotion to the Obama administration. People want to know what is happening to America and I submit to you that the mentality we have here is a root causes of the death of our moral fabric. We continue and continue to reward incompetence while making the competent pay the tab and at the same time the power of government continues to grow and grow. So I say to myself is the government doing this for a reason? Do they WANT incompetent people running the joint for reasons to vacuum up more and more power and our liberties? What is the reason for rewarding and bailing out this crap? I think we as Americans need to take a good look at ourselves because our laziness is causing us to lose our country. Ben Franklin stated when he was asked "What have you given us?" and Franklin responded "I have given you a republic, if you can keep it." People we are losing our republic. Please wake up. Write your senators and representative. Join protests. We HAVE to start getting the word out while we still have an America to call our own.


[edit on 5-1-2009 by tjeffersonsghost]

The SEC will merge with the CFTC to form something like the FMTC (Financial Markets Trading Commission) which will encompass all commodities, securities and their derivative contracts (options, and exotic hybrids) and there will be a push to get more of the OTC derivatives (ie, CDOs and CDSs) traded on the various exchanges where they can be properly regulated (margined and with oversight and accountability).

I'm encouraging folks to visit Obama's website: Change.gov. Scroll-down to Citizens Briefing Book on the right margin...click...and create an account...then enter CFTC in the search window. Vote on the issue, and please leave a comment.

If lack of oversight by the CFTC isn't your cup o tea...pick an issue.

If nothing else, I find it more cathartic than railing-against-the-wind


Related ATS thread: Vote for Disclosure at Change.gov

The SEC is not a regulatory entity. They are tools. Here's why I believe this:

www.abovetopsecret.com...

They are part of the problem, not the solution and they will only end up hurting America more in the end.

Originally posted by OBE1
I'm encouraging folks to visit Obama's website: Change.gov. Scroll-down to Citizens Briefing Book on the right margin...click...and create an account...then enter CFTC in the search window. Vote on the issue, and please leave a comment.

If lack of oversight by the CFTC isn't your cup o tea...pick an issue.

If nothing else, I find it more cathartic than railing-against-the-wind

Related ATS thread: Vote for Disclosure at Change.gov

One step ahead my friend. I send quite a bit of stuff to change.gov including this. I have never received one response.

Originally posted by tjeffersonsghost
One step ahead my friend.

I send quite a bit of stuff to change.gov including this. I have never received one response.

Not sure it's about sending them stuff and getting a response TJG. Rather, an opportunity to register your viewpoint on matters of import [to you] with the hope of having 'your' issue raised before the Pres after he assumes office.

Share your ideas on any issue facing the new administration, then rate or comment on other ideas. The best rated ideas will rise to the top -- and be gathered into a Citizen's Briefing Book to be delivered to President Obama after he is sworn in.

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