Infiltrated by Wall Street --- Shut Down the SEC

[Donnachaidh]

http://www.counterpunch.org/2011/09/12/shut-down-the-sec/

The Securities and Exchange Commission (SEC) is so riddled with Wall Street conflicts that it ought to be shut down and replaced with a new agency.

That’s the take of Gary Aguirre, former SEC enforcement attorney, and currently the lawyer representing SEC enforcement attorney and whistleblower Darcy Flynn – who alleges that the SEC is unlawfully destroying records of preliminary investigations once they have been closed.

“The culture is too embedded at the SEC – it’s in the SEC’s DNA,” Aguirre said in an interview last week.

Aguirre would replace the SEC with a new regulatory agency that would prohibit attorneys from flying through the revolving door from the SEC to Wall Street – or from Wall Street to the SEC – for a number of years.

More at the link --

[Exultant Democracy]

1. Regulatory capture is the tip of the iceberg

we are deep captured. The revolving door between the halls of congress and lobbyists and the boards of major corporations is the first problem we need to tackle.

[Mnemosyne]

2. K&R...

[Octafish]

3. Welfare for the Wealthy.

Socialize the risk. Privatize the reward.

You're a commie if you think there's any other way.

Kick and Rec.