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Live Blogging The SEC's Public Whipping

Let the games begin:
2:06 pm: Or... not.
2:08 pm: Ok, fine. We'll start. If you insist.
2:10 pm: Let's start right up with some procedural hitches... Spencer Bachus R-Alabama You know, since the 110th Congress has closed session, the Committee doesn't actually exist. The record isn't even official. (Oh, I love it).
Barney Frank, (God, is this guy everywhere or what?): Yeah, so?
2:23 pm: Now if only we hadn't taken all that money away from the SEC....
2:24 pm: Bachus: Hey, hey now, that's not what happened. The SEC had more funding than ever for the year in question. Duh.
2:28 pm: So far an incredibly drab bunch of rambling.
2:36 pm: Frank: It isn't the job of investors to detect fraud. (Uh, isn't it? Relying on anyone else (including the SEC) to do that work is everything wrong with the current system. Ugh).
2:39 pm: Oh no, Ron Paul. The fractional reserve banking system is a Ponzi scheme! So is Social Security. (Oh boy). We don't need the SEC!
2:56 pm: Dean Heller: Manners and expensive suits do not equate to integrity. Hah!