4 ms·
The SEC has proven useless, especially with the latest GME fiasco.
by gher-shyu3i 6y ago
The SEC has proven useless, especially with the latest GME fiasco.
- FabHK 6y agoThe SEC's aim is to prevent people from being defrauded, not from voluntarily throwing away money. Wonderful quote here: > One of the core principles of market regulation in the U.S. is transparency—give investors information and let them decide. The GameStop drama was nothing if not transparent. > “You can sell garbage to the public as long as you say to the public, ‘This is garbage and you’d be an idiot to buy it, but would you like to buy it?’” said Harvey Pitt, a former SEC chairman. > What appears to have happened in recent weeks is that a massive wave of retail investors answered, “Yes,” to that question, current and former policy makers say. https://www.wsj.com/articles/gamestop-frenzy-is-tough-call-for-regulators-focused-on-transparency-11612693802 https://www.wsj.com/articles/gamestop-frenzy-is-tough-call-f... EDIT: remove needless snark