I thought, "These guys just don't get it. Another Wall Street insider as policeman." But they do get it. They're just trying to conceal it. News was released after the close on a Friday. http://online.wsj.com/article/SB125572123250190601.html Tell any and all of your financial friends to leak documents on our wonderful financial industry, to this website. http://wikileaks.org/wiki/Main_Page In many instances, even the Wikileaks staff will not know who leaked the docs.
I dont see why people fail to understand this logic? Where else should the SEC tap its talent pool? Would you rather they pick non financial Wall St. people with little to no clue on what's going on? It takes a rat to catch another rat.
I'd believe you if we didn't have so many in congress and Government doing nothing already. They are there, yet nothing gets done. You know what would work? Nuke that place. Capital punishment. Public executions. I heard some Yale professor talk about farmers back in the Great Depression era. There would be "penny" auctions when a farmer lost his land because he couldn't afford the mortgage. While it was going up for bid he'd have his other farmer neighbors waiting there with guns and other tools. The farmer would put in his bid at one cent and wait(along with his friends) for others who might like his land to outbid him. As you can expect he would win the bid, and would be back to work as normal. Now I really don't think killing people is the answer but maybe a little torture wouldn't hurt. We do it because of the twin towers and this ruined our economy/peoples lives worse.
Actually I know this person, Adam is / was never on the trading floor, he is more of a product manager type. So I won't call him a "rat" or anything even close to that. He is actually quite young, i believe got his MBA around 2003 or so. But, if SEC had to go down this far to get a COO, this doesn't bode well for their ability to hire talent with any real insider view of how this industry works. It is unbelievable that they can't even attract any former head of some business unit from an ibank to head up the post.