Maybe the SEC figures there's something cathartic about letting the dolts vent their spleens. It doesn't seem like many of them are capable of learning from their past investing mistakes. And good old "Dr." DeCosta is always good for 40+ pages of nonsense.
I was surprised by a few of the letters though. The CFA Institute REALLY ought to know better, though I wonder if Schacht really has the full force of the Institute behind him. Most CFA's, at least the ones who actually work as analysts, don't go for this bullshit.
David Glanzer, Esq., the prosecutor, was a bit of a surprise, too. I would expect a prosecutor to be somewhat immune to this racket.
Then I noticed he's from Alabama and it all made sense.
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