I agree with most of what you say, however, due to the complications (FS results in exceeding authorized share structure, etc) regulators should have been given more time. A reasonable time might have been a week, or several weeks but less than a month. A year and a half, yep, the SEC is a disgrace. Clear who they work for and protect and it most certainly is not investors.
There is ABSOLUTELY NO MARKET INTEGRITY IN THE USA, JUST MASSIVE FRAUD!