Absolutely. I believe one of these sex deprived individuals was paid $285k, makes one wonder what else they were using their offices for?. Its unfathomable that any of these individuals given these kind of responsibilities could be this foolish?. Not only foolish but reckless. The SEC is a stepping stone for the many they employ.......
.Wall Street Firms love to hire people from that agency........"can't imagine why?". Lawyers who they employed, and then leave to work on their own use the knowledge they gained at the SEC to structure all kinds of deals, not limited to reverse mergers, and putting together shady enterprises in the OTC market. It can be very lucrative for them, even owning pinks for themselves. They know the ins and outs, and former employee's who can help them on their quest............
We surely can acknowledge why the SEC professes to have lack of resources, and why they are not protecting the public from fraud, and would be crooks..........
When we hear that these were just a few bad apples of the thousands who the SEC employee's, (Really?), then what about Madoff?, what about Stanford?, which went on for years. Think some didn't know?.
We even heard that some of these enforcement individuals felt intimidated when it came to investigating them, or others like them, since they had so much wealth, and power............GS would fit that bill, and many many trading firms like them. Kinda like the cop afraid of stopping someone in a luxury car even though they blantantly broke the law..........Its sounds like Nutsville.
What about the shady deals occurring in the OTC market with these CDO's and this CDS insurance?........these were bets, placed bets with the odds in their favor, and the reasons why?, the deck was stacked against the borrowers of these home mortgages, and the players made it possible. How can we know this?, the very loans that were being made were being bet against in the same time frame. What came first, the chicken or the egg?. It appears the Rating Agencies downgraded first, then one domino fell, then the next........
Hedgies made millions, even billions for themselves. Lots of companies who structured those mortgages then sold them to Wall Street, then Wall Street sold those toxic assets all over the world made hundreds of millions..............and even after it collapsed we learned that many who were behind this stuff were still getting paid millions, and bonuses, even up till today, and alot this came from, you got it!, Taxpayers Dollars.
More than this taxpayers paid for their lavish parties, and high end resorts. These were jubilees of intoxication having learned that no matter how corrupt they were the government at taxpayers expense would come to their rescue........paying off their bets and giving them the kind of liquidity which allowed for even more of this behavior.
AI
