My statement about more funding and regs was dripping with sarcasm obv. They should disband the SEC and start over from scratch. They are obviously incompetent, lazy and a captured regulator all rolled into one. Changing out the heads of the SEC is not enough as the problem is pervasive all the way down the line. I am really disappointed with Obama's selection of Schapiro. The definition of insanity is doing the same thing over and over again and expecting a different outcome.
Suppose 90% of the people agree the SEC is ineffective, what do you suppose the morale of the workers at the SEC is? They may feel as we do, more of the same ole same old.
I have some insight into this which I won't share. But I think Schapiro has been brought in with the understanding she is to dismantle the SEC, and establish a new organization of which she will head. But, from great sources, the SEC is over.
Believe me "normal" companies are trying to watch over thousands of employees every second of the day. If these yahoos were surfing porn at any other company, someone would intercept that and they'd be fired. It's about making a culture based on meritocracy.
Read this closely. "demoralized". Granted, sort of Freudian, "moral" being the root word, but you get what I'm saying. It's over. http://tpmmuckraker.talkingpointsmemo.com/2008/12/secer_agency_in_a_state_of_com.php