SEC Staffers Watched Porn as Economy Burned (companies, dollars, leader)

[Member1]

SEC staffers watched porn as economy crashed - Yahoo! News (http://news.yahoo.com/s/ap/20100423/ap_on_bi_ge/us_sec_porn - broken link)

[texdav]

Any wander they couold even do the basics lie see if madoff was actually trading.

[AnUnidentifiedMale]

Can't blame them. Watching porn is probably a lot more interesting than doing their jobs.

[california-jewel]

Then that must explain, why most of them absoutely cannot manage their jobs!!!!!!!!!

[AONE]

Most companies terminate when they find those wasting company resources. Can anyone explain to me why anyone would be stupid and surf porn on a company pc or network? do they think they are invisible?... Don't they realize someone can always see what they are doing, even if they connect to the internet?
You are not invisible! It leaves a trail even if you can't see it.

Now as to the SEC... are they still employed?

[summers73]

GOP ramps up attacks on SEC over porn surfing - Yahoo! News (http://news.yahoo.com/s/ap/20100423/ap_on_bi_ge/us_sec_porn?utm_source=twitterfeed&utm_medium=twit ter - broken link)

Keystone cops on the beat, watching after your economy. More of this will obviously be better, no?

Umm...maybe not?


YouTube - Financial Regulation

[GregW]

What is the similarity between mismanaging an economy by ending regulation and surfing for porn? Both are obscene.

[summers73]

Originally Posted by GregW

What is the similarity between mismanaging an economy by ending regulation and surfing for porn? Both are obscene.

Ergo, the Keystone Cops reference. Regulation can often provide a false sense of security, and as Mr. Schiff has mentioned, can prevent many new mom and pop brokerages from coming online. This is no different than how tax accountants now must have special federal regulations. This will help out the big guys like Jackson Hewitt and HR Block as they have the $$$ to comply, whereas the small guys and those wanting to do it to earn a few extra dollars every year are muscled out. The result will be fewer choices and thus higher costs due to the lack of competition.

[Swingblade]

I am a big fan of Schiff's and the main reason is that I am not educated and he breaks it down where I can understand it.The point he made about it is not a free market in housing when the gvt is so heavily involved.How could it be when the gvt is backing loans and will step in and bail out the losers?Some will still swear that the free market failed,but as Schiff pointed out it was centralized planning by the gvt that failed.And until they write legislation stopping the gvt of backing loans{freddy/fanny}nothing will change.
The other point about hiring a person for systemic risk does nothing,like he said it just puts on a new hat.Barnanke claimed he did not see the bubble burst coming and it hit him like a freight train.I think he knew,he knew the gvt would step in and bail the banks and insurers out so he played dumb and it worked.Most likely the consumer protection dept and the new systemic risk czar will end up in the FR,talk about letting the fox gaurd the hen house.Our leaders are so brillant.LMAO.

[Compression]

Originally Posted by summers73

Ergo, the Keystone Cops reference. Regulation can often provide a false sense of security, and as Mr. Schiff has mentioned, can prevent many new mom and pop brokerages from coming online. This is no different than how tax accountants now must have special federal regulations. This will help out the big guys like Jackson Hewitt and HR Block as they have the $$$ to comply, whereas the small guys and those wanting to do it to earn a few extra dollars every year are muscled out. The result will be fewer choices and thus higher costs due to the lack of competition.

This is exactly what is happening with everything............from Accountants to mechanics, to the guy doing body work on your auto.

Some regulation is a good thing. Over regulation is not. It stifles competition, and creates a sub standard that we as consumers are forced to live with. And allows gubmint backdoor control by utilising the power to grant or to revoke licenses from those they deem do not fall in line with their dictates.

Yachtcare has spoken.......