The SEC, fresh off an impressively long stretch of missing virtually everything they were supposed to catch, is ramping up its efforts to become a remotely credible regulator. After being publicly humiliated by the widespread ineptitude of missing the Madoff fraud as well as its own insider trading scandal, the new SEC Chairman, Mary Schapiro, is determined to create a new kind of SEC.
I wanted to be very clear almost from my first day -- not just with words, which are pretty easy to string together, but with actions -- that this is a new SEC that is moving in a decidedly different direction and at a decidedly different pace,
Given the rhetoric coming out of Washington regarding evil speculators, it should come as no surprise that hedge funds, derivatives, and short-selling are three of the primary targets in the SEC's cross hairs. Schapiro clearly has a huge uphill battle ahead of her. She is head of an organization where people still take issue with categorizing the Madoff miss as a failure. Effective regulation can help markets avoid the meltdowns we saw last year, but the risk of the SEC becoming over zealous to restore its image looms large.
SEC Chief Strives To Rebuild Regulator [Washington Post]
Posted by guest , Jun 04, 2009 11:56AM
Too much cogent analysis for DealBreaker, or did I accidently click the DealBook link?
Posted by guest , Jun 04, 2009 11:57AM
I would rather watch an endless loop of that irritating Above the Law ad than read another post written by Greg.
Posted by guest , Jun 04, 2009 11:59AM
@1 The word cookie cutter popped into my mind. Is there anything in there which is remotely insightful and not obvious?
Dear Bess, you have spoiled us all.
Posted by guest , Jun 04, 2009 11:59AM
Why do I have to put a condom on to read the comments?
Posted by guest , Jun 04, 2009 12:05PM
"How's your portfolio look Greg?"
"I'd say strong...to quite strong..."
"Greg's a male nurse"
Posted by guest , Jun 04, 2009 12:13PM
Greg you say:
"She is head of an organization where people still take issue with categorizing the Madoff miss as a failure. "
Can you say how many of those people STILL work at the SEC? Names will also be of great help.
Thanks in advance.
Posted by guest , Jun 04, 2009 12:18PM
This reads like a "current events" homework assignment written by the douchiest kid in your high school business class. Greg, we don't need you to regurgitate and summarize CNBC and WSJ articles for us
Posted by guest , Jun 04, 2009 12:23PM
Greg,
Please come home, your father didnt mean it when he said you were a "constant embarassment" or that you were an "abject and utter failure".
From your favorite "leafy, snobby suburb",
Mommy
Posted by guest , Jun 04, 2009 12:24PM
Greg, did your parents have any children that lived?
Posted by guest , Jun 04, 2009 12:32PM
"not just with words, which are pretty easy to string together (unless you're name is Greg)"
Posted by guest , Jun 04, 2009 12:33PM
What? SEC for iTunes? Yeah, that'll work.
Posted by guest , Jun 04, 2009 12:34PM
I have one word for you, 'ANUS'.
Posted by guest , Jun 04, 2009 12:38PM
EP's rant just made life for the Gregster a whole lot worse.
You people should be ashamed of yourselves!!! Leave the poor guy alone ...
Posted by guest , Jun 04, 2009 12:38PM
This kind of behavior is why Dealbreaker can never get a new writer to stay. You day you care about EP and Bess yet you criticize anyone stepping in to take some of the workload. You are such taskmasters, you want to work them to the bone.
Posted by hedge , Jun 04, 2009 12:42PM
@7: QFT.
Greg RN, heed 7's advice. No one comes to DB for this shit.
Posted by guest , Jun 04, 2009 12:44PM
@14 said "This kind of behavior is why Dealbreaker can never get a new writer to stay." who left? Carney after two years?
Posted by guest , Jun 04, 2009 12:44PM
Gregory and his husband Jean Girard just want what any couple wants. To retire to Stockholm and develop a currency for dogs and cats to use.
Posted by guest , Jun 04, 2009 12:50PM
wasn't ther someone named William? Wasn't even thinking of Carey.
Posted by Anal_yst , Jun 04, 2009 12:50PM
@16
Dan Harrison (because he was freaking horrible), Keith Hahn (for reasons still unbeknownst to us all), maybe one or two more I'm missing
Posted by guest , Jun 04, 2009 12:53PM
@analyst- harrison was fired because (which you seem to have noted), he sucked. and kh was much loved, so it's doubtful he quit one day not being able to take the heat any longer.
Posted by guest , Jun 04, 2009 1:00PM
WOFT
Posted by guest , Jun 04, 2009 1:03PM
@3
1 here. yes. Cookie Cutter is a better way to say it. Sounds like how it would get discussed in intro to finance.
Posted by guest , Jun 04, 2009 1:05PM
david carradine killed himself in bangkok because he couldn't take any more awful, boring posts by greg michaels
Posted by guest , Jun 04, 2009 1:16PM
hey george...please explain
"She is head of an organization where people still take issue with categorizing the Madoff miss as a failure."
are you saying it is now wrong to categorize Madoff miss as a failure? or why take issue ... sorry ... like most of your crap writing ... "i don't get it"
Posted by guest , Jun 04, 2009 1:25PM
@24 it's greg, not george, you dunce. do you realize who you're speaking to? greg michaels single-handedly wrung every penny out of the ultrashort financial ETF market at the height of the crisis.
Posted by guest , Jun 04, 2009 1:58PM
@23 FTW
Posted by guest , Jun 04, 2009 2:04PM
typical warm db welcome
-failed merrill retail broker (FMRB)
Posted by guest , Jun 04, 2009 2:34PM
@14 indeed i would like bess and EP to work for my bone
Posted by guest , Jun 04, 2009 3:41PM
@8 FTW