DD Support Board and Research Team

[janice shell]

As you know how I feel about Libertarians.

The SEC really does care, but the people who work for it are conflicted. The agency was created, after all, in the wake of the 1929 crash. But before that happened, the Securities Act was signed into law to force issuers to explain what they were selling in their offerings. That was in 1933. In '34, it became more complicated, when the Exchange Act was signed, and created the SEC.

The modern SEC has acknowledged many times that "protecting investors" conflicts with another part of its mission: facilitating capital formation.