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SEC is garbage every where. I found a foreclosed property that was lost due from a reverse mortgage and the lender wasn't in a hurry to sell for fair market va
by segmondy 6y ago
SEC is garbage every where. I found a foreclosed property that was lost due from a reverse mortgage and the lender wasn't in a hurry to sell for fair market value. I dove in and found out that this company is taking poor performing reversed mortgage properties that are at risk of foreclosure and packaging it as a securitized debt and selling to Wallstreet. Pretty much stamped AAA+ by Moody's filed by SEC, same ol crap from 2008 is still happening, and the house can't even sell for how much they loaned out. Depending on any govt agency to protect us is just dreams, dig into the data yourself and figure it out. Lots of people noticed issues with Wirecard, you can do the same for any US company just learn to read their 10K filings, they might lie but it's often a good start.
- brnt 6y agoNot saying that your example isn't a valid critique, but shouldn't you weigh the number of problematic cases against the number in which the SEC functions well? Moreover, certain parties would benefit from the SEC being starved of resources due to people not trusting governments in general anymore. Its a strategy that has paid out in the US in many instances.