The SEC appears to avoid going after the market infrastructure itself and I’ve detected in Gensler a tone of self preservation and unwillingness to go after politically “protected “ situations. Maybe not that he wouldn’t if presented with such a compelling and publicly obvious case that to ignore it would be untenable, but imo he isn’t plunging the SEC (and his own job security) into battles he is likely to lose or pay dearly for trying.
I’m sensing this not in a way that Gensler is fearful or in denial, but rather in a logical sense of you can’t do any good in the larger sense of the SEC job if you get cut down by taking on situations that will diminish you or take you out (I.e., you don’t spit into the wind.)
So it’s not that spoofing and other crimes don’t exist and aren’t being committed, as seen by the bank employees who got prosecuted, it’s easier to go after entities such as companies and individuals who aren’t part of the market system itself and where a lot of money is involved that might find it wetting many beaks, some small owl beaks and some hawk and big eagle beaks, but all birds of prey feeding off the retail mice as we try to traverse the Wall Street mazes that they construct for us!
Yes, a bit contorted and carried away perhaps but I don’t like being a mark in a rigged game.
AI
Market Data 
Markets 
