Will Somebody Please Give Mary Schapiro Directions

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In theory, the road to redemption for the SEC was supposed to include making sure its foot soldiers were properly trained, supervised, and disciplined. They were going to install Full Metal Jacket caliber training to avoid having another one of their Private Pyles allow a second Bernie incident. There were hints the agency was at least heading the right way. They went out and found some compliance software to cut down on the frequency of insider trading investigators moonlighting as insider traders. Congress seems to have no problem making sure the money is there to provide every employee with a state of the art Commodore 64. Things were going well. Until this.

"Changing cultures doesn't happen overnight, but we have to take away some of the shackles that have been placed on staff over the years," Schapiro said at an event hosted by Georgetown University

Jelly donuts for everybody!


The French Fart in the General Directions of London and Frankfurt

Oh, the wily and unscrupulous French: They spend years arguing with the ferocity of a cockfighter for tough, nay, draconian financial regulations. And then they elect a Socialist who promises to be even less interested in the concerns of the monied classes. And then, when Europe's two biggest economies—the ones housing the financial centers the French hope to destroy—announce that they'll impose the aforementioned tough, if not draconian, regulations, the French say, joke's on les Huns et les rosbifs.