NO QUARTER FOR CORRUPTION (Focussing on The Fed./FRBS)

[Telephonics]

I wrote this one today after reading Dave Patch’s blog, entitled “If you want to beat the SEC in an enforcement case, just go out and buy one of them,” at http://www.thesanitycheck.com/Blogs/DavePatchsBlog/tabid/66/EntryID/323/Default.aspx


So thanks Dave, you ruined my mood for the entire evening. Sorry about my colorful language everyone, but sometimes “This makes me quite angry” just doesn’t cut it.


Faulking Truth Editor to Hedge Funds: I’ll be Your B*tch
Mark Faulk
June 8, 2006


The system is broken. It cannot be fixed unless we dismantle it and start over. Now that the SEC has become just another pipeline to big money jobs in the very industry that they're supposed to be regulating, does anyone believe that they'll be tough on these people while they're with the SEC? It's no different than ex-congressman becoming high-paid lobbyists for the same firms that they oversee in their committee duties.


The SEC from now on will be seen as nothing more than a training ground for a lucrative job helping those that they regulate beat the very system that they’re pledged to serve. Toil for a few years as a congressman, or as a mid-level employee at the SEC, and then leap to a high-paid position with some seedy hedge fund who only goal is to bleed America dry and leave the body for the vultures. Toil for a few years as a congressman, or as a mid-level employee at the SEC, and wait for the behind-the-scenes offers to start rolling in.


Read the rest of this commentary at:
http://www.faulkingtruth.com/Articles/LettersToEditor/1031.html


This commentary is also posted on Mark Faulk's blog, along with an excellent comment section, at:
http://www.thesanitycheck.com/Blogs/MarkFaulksBlog/tabid/86/EntryID/324/Default.aspx