Who is going to stop the SEC?

Discussion in 'Wall St. News' started by PoundTheRock, Aug 26, 2005.

  1. If Bush was a proper Republican, the SEC would stop all this bullshit and fees and only do the job it was created to do. No uptick rule or other bullshit nonsense.
  2. And let's don't forget the fine job they did with the PDT...
  3. Republicans likely endorse the concept of SEC section 31 fees, which make the commission self-supporting.

    Democrats likely support it, too, because the fees collected this year ($1.22B) will exceed the budget ($913M, and from looking at http://www.sec.gov/foia/docs/budgetact.htm they usually underspend that budget) and the excess fees go into the general treasury. :)

    I read the WSJ article about the informal inquiry, and it says that, according to one person familiar with the inquiry, they're mainly looking at PIXR because they looked at DWA. DWA had worse problems, of course, including the earnings miss that was leaked to the press, and probably merited an inquiry because of that. I follow PIXR as much as an average shareholder does, and PIXR doesn't seem to have done anything wrong, but who knows.

    Anyway, the market just shrugged it off. Most extreme reaction I saw was a shortie on the message boards predicting PIXR was headed for the pink sheets.