The SEC won't do anything with teeth until crypto and Tether are already collapsing. No government auditor took out Madoff, nobody wanted to touch it, because

The SEC won't do anything with teeth until crypto and Tether are already collapsing. No government auditor took out Madoff, nobody wanted to touch it, because he was so popular and his clients were influential, and anyone investigating him would be sticking their neck out. That's the kind of risk that if you don't get it perfectly right destroys career and even if you're right you may get blamed and destroyed anyway for pressing the button. Much easier politically to mop up after it all collapses. Same thing here since if the SEC pops Tether then now you'll trigger automatic lawsuits from Tesla investors, and there's too many billionaires that are still true believers who have enormous influence over the government and will cause them to be overly cautious.