>hopefully the SEC actually does something for once
They can’t when people like Musk are allowed to rip the few teeth they have out any time they try to hold wealthy individuals/companies accountable. Jon Stewart did a really interesting interview with a former SEC chair few months ago (“The Problem with Jon Stewart”), and while Jon clearly clearly tells him to not pass the buck/not make excuses, it’s also clear to him that the SEC is outgunned and a serious example of regulatory capture.
They can’t throw money at the problem, they can’t get clever or they’re sued for being “out of bounds,” and they’ve been successfully demonized to the public, so they have no support virtually anywhere.
It’s like the whole “tax the rich” battle cry. We won’t see it happen so long as the IRS is considered borderline an enemy of the people, because who could ever campaign on “increase funding for the IRS so they’ll be better at collecting taxes”?
They can’t when people like Musk are allowed to rip the few teeth they have out any time they try to hold wealthy individuals/companies accountable. Jon Stewart did a really interesting interview with a former SEC chair few months ago (“The Problem with Jon Stewart”), and while Jon clearly clearly tells him to not pass the buck/not make excuses, it’s also clear to him that the SEC is outgunned and a serious example of regulatory capture.
They can’t throw money at the problem, they can’t get clever or they’re sued for being “out of bounds,” and they’ve been successfully demonized to the public, so they have no support virtually anywhere.
It’s like the whole “tax the rich” battle cry. We won’t see it happen so long as the IRS is considered borderline an enemy of the people, because who could ever campaign on “increase funding for the IRS so they’ll be better at collecting taxes”?