NYSE Euronext (NYX)

[Not_Bill_Oneil]

Might as well stay up now...

Bloomberg had a well written news article on Tuesday also on the SEC and the report they censored on the agency's failure to regulate and do anything ahead of Bear Stearns' collapse.

Here's an excerpt:

"The report, by Inspector General H. David Kotz, was requested by Senator Charles Grassley to examine the role of regulators prior to the firm's collapse in March. Before it was released to the public on Sept. 26, Kotz deleted 136 references, many detailing SEC memos, meetings or comments, at the request of the agency's Division of Trading and Markets that oversees investment banks.

``People can judge for themselves, but it sure looks like the SEC didn't want the public to know about the red flags it apparently ignored in allowing Bear Stearns and other investment banks to engage in excessively risky behavior,' the Iowa Republican said in an e-mailed statement.

An unedited version of the 137-page study posted to Grassley's Web site Sept. 26 showed that Bear Stearns traders used pricing models for mortgage securities that ``rarely mentioned' default risk. "

The rest of the article talks about the SEC's "failed mission".

Let's see if they still take off their temporary short selling ban rule tomorrow night into this mess. That will be brilliant.

http://www.bloomberg.com/apps/news?pid=20601109&sid=a6iXuZJG1L44&refer=home

NYX was on that temporary ban list - if they let the rule expire you may need an extra beer on Thursday Metro.