So, you know the SEC? That regulatory body at the height of its game, which uncovers and cracks down on scams by reading about them in the Journal or other business publications, and then either responds or ignores them? You probably thought there was no room for improvement and, for the most part, you’re right. There’s just one tiny area the regulator could use some help, and then it’s not even going to be funny. You will hear the acronym SEC and spontaneously soil yourself in fear. It will be on.
[I] propose allocating additional resources to the following categories:
Trial lawyers: It is important that the Commission maximize the capacity and ability of its trial unit. Simply stated, we must convey to all defendants in SEC actions that not only do we assemble winning cases against them, but also we are prepared to go to trial and we will win. Only then can we expect to secure the type of settlements that both achieve justice for investors and save resources to be used in pursuing the next case. Without that credible threat, we are at a severe disadvantage. Our trial unit does an admirable job, but given the increased caseload, particularly the great increase in the number of emergency actions such as temporary restraining orders and asset freezes, it needs to grow.
In lieu of any interest from the Cochrans of the world, MareSchap is reportedly willing to settle for some Bob Loblaws.
Related: SEC To Make Up For Completely F*cking Up By Joining Twitter
Testimony Concerning Strengthening the SEC’s Vital Enforcement Responsibilities [SEC]
Its hilarious that Mary Schapiro is all of a sudden acting like she gives a crap about credible enforcement. Where was this while she was collecting $3mil/yr at FINRA?
If the ponzi doesnt fit; you must acquit
Bob Loblaw. Man I miss that show. He would have certainly averted this whole “credit crisis” thingy.
@2 ftw
Anyone know where I can pick up a Coogi necktie?
best picture ever
COOGI NECKTIE…that’s dynamite! They should have held his ass in contempt of court for wearing that.
Barry Zuckerkorn resents not being mentioned. He’s very good.
@3, thankfully it lives on through HULU
so in other words, use the Obama approved method of scrapping the rule of law in favor of results, ala Chrysler.
@3, the abandoned model home in California was really ahead of its time, wasn’t it?
@10- how the fuck did you get that from this? the SEC, by its own admission, has lawyers who barely graduated law school, and need mildly competent individuals to make it (barely) work.
http://burlveneer.blogspot.com/2005/12/cosby-sweater.html
The SEC will henceforth fund itself on a contingency fee basis. Logo: Bunch of Corporate Chasers.”
@ Bob Loblaw skews younger
@12
precisely, although you aren’t seeing the whole picture. in the face of minimal resources, inadequate staff, and growing case load, the need to score some victories becomes essential in making her point about their trial division.
Yes, hire more sub-par lawyers that couldn’t make it in private practice, that is surely the solution.
When did DB turn into a Bob Loblaw Law Blog?
@10/17 – Would you please explain to the rest of us whose mothers did not smoke crack during their pregnancies how exactly *trial lawyers* are going to “scrap the rule of law”? Last time I checked, trial lawyers went to *trial*, in court, in front of a judge.
Do yourself (and us) a favor: trot on over to http://www.redstate.com. You will find the environs more accommodating to your apparent taste and level of intellect.
Thanks for dropping by, though!
- Not @12
Bess
What were you thinking posting something about J Cochran.
Better bust out a counter for the “If the (insert scheme here) doesn’t fit, you must aquit” references that will now start appearing.
Oh no,
Please no more stupid Jonny Cochran references. Why couldn’t you use Perry Mason or Matlock Bess?
“If the glove don’t fit, you must aquit.” Set up a counter for some variation of this quote on DB.
FTL
@20
@10/17 here.
the obama administration has taken the rule of law as a suggestion it is free to ignore, with chrysler in particular, and so long as they are gunning for those in finance, the SEC seems primed to do the same – especially given the factors i quoted above. your pithy quote about trial lawyers and law is amusing, but only briefly (obama is bound by the same, but ask chrysler’s creditors what that did for them). what is more amusing is your shrill idiocy. maybe they will indict you first.
@23
For Real? Mix a little bit of moderate commentary in with your townhall.com and Drudge Report okay man. All that sky is falling and Obama=Socialist rhetoric will cause your blood pressure to rise. When Obama comes to your house and burns your authoritative collection of El Rushmo down then we’ll talk about 1984 and the Road to Serfdom Okay yeah see ya buy now!
should SEC lawyers really be wasting time on this site when there’s so many bad guys to get? “buy now” @24!
They WILL get results, hell yea! Even if legitimate funds have to go down.
@25
24 here. I wish i could say that terrible mispelling was on purpose, as a sort of witty follow along to the whole El Rushmo collection or the 1984 and Road to Serfdom reference. Alas, I can not. I just mispelled “by”.
I fail…. at DB… and at life…
But at least I’m not #23 and running around thinking the sky is falling.
@27
The word you are searching for so desperately is ‘bye’.