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

[Telephonics]

From Washiongton Post.

SEC Tightens "Soft Dollars" Rule

The SEC voting 5-0.issued tougher guidelines on the use of soft dollars limiting the kinds of services money managers can buy by buying brokerages inflated commissions and passing the higher costs to investors (thats us)
The SEC said computer equipnment and office furniture do not qualify as appropriate uses for soft dollars,which allow brokerages to charge higher commission rate for trades if they use a portion of the fees too provide money managers with investment research. The SEC found that money managers had been using client money to pay for things like charted financial analyst exam review courses,office rent, meals and carpeting.
Separately the SEC proposed changes to rules that goivern short-selling of stock------ (See my last ppost on this subject)