It would appear the SEC is not happy (paychecks, money, financial)

[Traderx]

Say what you will about the SEC, I'll go first and say they suck, but it seems they've all of a sudden decided to do some investigating and start nailing crime. I don't know the numbers off my head but I'd bet more people have been charged with insider trading in the last month than in the last decade.

We still need to fire everyone in the agency and start over but it's good to see them at least trying for a change.

[pghquest]

Originally Posted by Traderx

Say what you will about the SEC, I'll go first and say they suck, but it seems they've all of a sudden decided to do some investigating and start nailing crime. I don't know the numbers off my head but I'd bet more people have been charged with insider trading in the last month than in the last decade.

We still need to fire everyone in the agency and start over but it's good to see them at least trying for a change.

I wondered lately myself as I've seen the increased stories on the news.

Do you think its due to increased monitoring or due to an increase of insider activity?

[tallrick]

Just a case of distraction to go after the little fish while the Goldman Sachs criminals suck up the remaining productive assets.

[floridasandy]

While the SEC is incompetent, the securities industry's self-policing organization, the Financial Industry Regulatory Authority, is "very corrupt," Markopolos testified. That organization was headed until December by Mary Schapiro, President Obama's new SEC chief.

the SEC has no intention of fixing anything. these appointments are no accident.

denninger should be mandatory reading for people in the past few days. he has been nailing it lately and today he has another good piece:
http://market-ticker.denninger.net/a...-Prove-It.html


Or how about a bit of statistical analysis? What are the odds of a large firm having only three losing days in about 120, and only one in 60? Who's that? Goldman Sachs and their proprietary trading. Again, quite simply: what are the odds?

Everyone likes to make a buck. But nobody wants to play in a rigged casino - unless they're one of the people who is either being kicked back profits for doing the rigging or one of the beneficiaries.

People seem to forget that it's not just wrong when someone profits by improperly driving some firm into the dirt. The market is a negative sum game in that it has fees and costs associated with participation.

As a consequence whenever someone makes a profit based on improper inside information and/or rumor mongering whether the move in the market is up or down someone else loses an equivalent amount of money.

[ufcrules1]

Originally Posted by tallrick

Just a case of distraction to go after the little fish while the Goldman Sachs criminals suck up the remaining productive assets.

^^^^This.

[evilnewbie]

Originally Posted by pghquest

I wondered lately myself as I've seen the increased stories on the news.

Do you think its due to increased monitoring or due to an increase of insider activity?

NEITHER... its due to increased enforcement... they all know its happening and its quite OBVIOUS... they just didn't do anything about cause their paychecks were guaranteed even if they didn't do crap... now that we have their attention, heads will need to roll... better enforcers are needed... cause after we get done with the OBVIOUS cases, its the ones that aren't obvious that needs to be looked into....

[Traderx]

Originally Posted by pghquest

I wondered lately myself as I've seen the increased stories on the news.

Do you think its due to increased monitoring or due to an increase of insider activity?

I think it's because someone is pissed that's all. It appears most of these cases were out there for years but now all of a sudden action is being taken.

I guess the question now is how pissed are they? Will we see Cohen, Soros, Griffin go down? So far it's just been some piker's. I guess we'll see whether they're serious or just throwin a few goats to the alter.