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Forum Post: News about "Occupy the SEC". This is fascinating.

Posted 12 years ago on Feb. 20, 2012, 2:46 p.m. EST by therising (6643)
This content is user submitted and not an official statement

http://www.counterpunch.org/2012/02/20/occupy-the-sec-pitches-an-extreme-makeover-of-wall-street/

7 Comments

[-] 3 points by GirlFriday (17435) 12 years ago

The Volcker Rule constitutes Section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act signed into law on July 21, 2010. In addition to proprietary trading, also impacted will be the ability of Wall Street banks to own hedge funds and private equity funds. The new rules are scheduled to take effect on July 21 of this year if Wall Street lobbyists lose their bid to derail the implementation.

They are doing everything to get rid of the Volker Rule. It's like watching a bunch of 2 year olds in mid tantrum.

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[-] 1 points by therising (6643) 12 years ago

That would be hilarious if this weren't so damn serious. I like your description.

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[-] 1 points by GirlFriday (17435) 12 years ago

Thanks. :D

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[-] 2 points by MattLHolck (16833) from San Diego, CA 12 years ago

in·sol·vent/inˈsälvənt/ Adjective:
Unable to pay debts: "an insolvent company".

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[-] 2 points by gnomunny (6819) from St Louis, MO 12 years ago

Wow, where did these guys come from (that's rhetorical)? This is a great step forward. And that's a good link to show all the naysayers. Good post, TR. Spring has sprung!

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[-] 1 points by DKAtoday (33802) from Coon Rapids, MN 12 years ago

Good article, a must read.

It is time and long past time for the SEC to get to work. It is time and long past time for the Justice department to pitch-in as well. Stop corruption and corrupt practices and shut the door on further corrupt moves. Charge the criminals and demand restitution for those injured by corrupt practice.

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[-] 1 points by ineptcongress (648) 12 years ago

I was told in school how revered, esteemed and effective an agency the SEC was, and how their "disclosure model" was the solution to everything, because the markets will figure it out. I have now come to conclude that the "markets" are ignorant (with the exception of a few participants), and therefore, disclosure is not enough; and further, that the SEC is completely ineffective and intentionally starved of the funding it needs due to lobbying pressure from the industries it is supposed to regulate--I presume the same happens at the FDA, CFTC, OCC, FERC and every other agency. "The Warning" was a show by PBS's Frontline that made me highly confident in these conclusions.

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