It's almost sickening now that the regulators 'on the beat' while the biggest credit collapse in modern financial history unfolded are now patting themselves on the back for their 'brave' stance on short-selling!
Despite its heightened duty, at times the SEC has been inattentive to economic analysis.
If you've been to China, you know there are over 100 cities in China, and the pollution levels are just horrific - 60,000 people a year die in Chinese factories and facilities because they don't have any safety regulations. It's a carnage; it's Dickensian.
I think it is asking a lot for regulators to be perfect - because they won't be.
I think that when we talk about the regulators and the politicians, the economic consequences of bad decisions back in '08, you know, were devastating, and they had repercussions throughout the world.
From the beginning of time, we've had financial crises. People always blame the banks and for good reason. When you look for the root causes, they're almost always failed government policies.
If you read his … testimonies before Congress you will note that there is always something to be terribly, horribly and deeply worried about
I have a saying: the scandal isn't what's illegal, the scandal is what's legal.
Wall Street is broken for sure because it succumbed to greed and corruption and pure speculation with no values.
