Ok, I've seen enough. Thread: Role of the SEC
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The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government. The SEC has a three-part mission: to protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation.
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Typical offenses prosecuted by the SEC include accounting fraud, dissemination of misleading or false information, and insider trading. The SEC is an ESSENTIAL, credible check on corporate power.
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The SEC is literally the only thing standing between you and your worst nightmare of Weaponized Global Capitalism, that you can imagine.
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Here's a list from 09-12 SEC Enforcement Actions. Now imagine a world where all of this was legal. Companies would be incentivized to lie, cheat, and steal as much from the public as possible, until it begins to affect their sales. https://en.wikipedia.org/wiki/U.S._Securities_and_Exchange_Commission#List_of_major_SEC_enforcement_actions_(2009%E2%80%9312) …
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The SEC's existence is NOT the scandal. The scandal is that the SEC takes a settlement payoff and elects not to prosecute. https://www.sec.gov/news/press-release/2013-187 … https://www.sec.gov/news/press-release/2018-112 … https://www.sec.gov/news/press-release/2017-98 … https://www.sec.gov/news/pressrelease/2015-168.html …
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Heres the truth: When a corporate "settles" with the SEC, it pays the SEC, and admits no fault or guilt, and the game goes on. Imagine what would happen if the threat of regulation was nonexistent. It would be a predatory corporate nightmare. Singed, - a Trader
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