The securities and exchange commission is a joke. They've done nothing but let huge companies get away with lucrative crimes. Seriously, what is a fine of a couple hundred thousand dollars against making hundreds of millions. It sure as hell isn't a deterrent. And then, the SEC will destroy the evidence following 'their rules'. I liked John F Kennedy... but his father was a prick. He designed it so you can make your money and then pay for your crimes with the chump change and fallout patsy you picked up while committing the crime. I don't know what I want out of this thread, other than to vent my frustration. Imagine if we treated these crooked fucks like this guy
In China the bankers who have been stealing our money would be sentenced to death. I'm not joking. There have been a few cases in China similar to the stuff that happens here with MF Global, etc, and the owners get imprisoned or executed quite often.
I might be wrong but I thought the SEC only had powers to file civil charges but will assist other law enforcement agencies in filing criminal charges?
That's right! Have you ever noticed how often a 'scandal' comes across the desks of the SEC and gets buried there in civil charges. It keeps the consequences in small dollar amounts and is set up to be a public slap on the wrist.
Well, I just had fun looking at their business laws and regulation... I'm lying. I googled it, gave it a 10 second glance and started typing this. I will be looking at it later. I would love to draft an american copy and start a new era of business practices here. I do wonder how we could change this set up, short of going Chinese on these criminals with or without new regulations.