SEC Kills Whistleblower Initiative Claiming Its Billion Dollar Budget Is Insufficient

by Tyler Durden
Zero Hedge
Dec. 02, 2010

If you abolished the SEC tomorrow no one would even notice. Just fire them all and sell their property off to the highest bidder.

They give the illusion of protecting people, they give the illusion there is some watchdog keeping everything in line and making sure no one is engaged in any fraud.

It's a lie, it's a hoax, Bernie Madoff showed that clearer than ever, abolish the whole agency and people would start being more skeptical of where they put their money and who they invest in.

On top of that, all the insanely idiotic regulations amount to nothing more than an attack on the smaller traders etc. in order to raise the cost of entering the industry, that way the big players keep competition out of the market (because to them all these regulations are just a small write off).

Same goes for everything the government does, it's all grasping at straws to justify it's needless existence. - ChrisJust when you thought the parasitism at the SEC could no longer surprise, we find ourselves stunned yet again.

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