They are slowly closing all the loopholes that they have the power to do so. Folks can say what they want about the Obama administration, but the new SEC administration is doing more to fix problems now then they ever have. It's a slow process though. I just wish we didn't have to involve Congress on securities legislation.
I believe the SEC will use it's powers to fix some of the problems, but ultimate market reform lies in the hands of Congress and I have little faith in their abilities to pass any meaningful reforms.
We may simply end up with a whole new set of loopholes that can be exploited. At least some effort is being made to show transparency.
Now that we are getting that transparency, many who called for it now can't believe the data they are being shown.
It's as bad, if not worse than what many had thought.
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