I agree. In regards to the SEC, there is no shortage of effective laws and regulations already in place. And their authority to enforce them. What is severely lacking is the enforcement part. If they just started enforcing the laws already on the books, and utilizing the tools they already have (such as enforcing the laws about officers signing false certifications, which is perhaps their most effective tool against corporate fraud but NEVER used), then perhaps Congress would be able to actually evaluate if more is needed.
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