Over the last 10 years, it seems like the SEC only goes after politically and economically unconnected people. Or people of non caucasion backgrounds. Ie the hong kong couple who traded on the dow chem news, that sri lankan hedgie, the bar tender who traded on news he overheard, etc. And this was done fairly quickly. They never go after the goldman traders, bear stearn traders, or the citadel traders. Only the people who arent connected, and usually people who arent white.
Yes. There is no doubt that the SEC does discriminate based on color. Brother, if you're palm ain't green, you are out.
I had a friend who use to work for the sec, and he told me that its alot harder to go after the biggies, even if you had evidence b/c they bring down everything on you. And if you lose it gets personal, that they would use their political clout to make you unable to rise in the sec. and if you decide to leave, you would be black balled at other firms. You have tobe 200 percent sure that they are guilty, or your careers done.
Almost pissed my pants laughing at this one! Yes the SEC run by a woman (Shapiro), guided by a panel of 5; two women and a hispanic (Luis Aguilar), created by congress; now headed by a woman, commission reporting to a black president, is targeting minorities . . . Way to go! Hysterical!
The investigation started under Cox. They had evidently been watching Galleon for 3 years. The SEC NEVER opened the investigation into Madoff. I think the idea that the SEC only goes after the little unconnected fish has a lot of validity. Hooker or no hooker, I would like to see someone like Elliot Spitzer who is NEVER going to work for Wall Street as the head of the SEC.
He's a moral fuck-up who just can't keep it in his pants no matter what the cost, but I give your post a +1. BTW, what we are dealing with in terms of the SEC/Government/Wall Street incestous money-fest isn't so much racism as it is cronyism and pure unaudulterated greed and serving of one's own self-interest. These are the principles this country was founded on and that are embraced by the group conciousness, to the detriment of anything approaching sanity or rationality, so this is what we get. *** Goldman is giving on an average bonus of one-half a million dollars to its 3,000+ employees and in the case of the directors and managing partners the amount goes into the multiple-millions and billions ... and a former Goldman employee is about to head-up the SEC. Give me a fucking break.