The SEC being a joke is not an accident but the result of a decades long push for it to be a toothless tiger by conservative lobbyists in both major parties. Th

The SEC being a joke is not an accident but the result of a decades long push for it to be a toothless tiger by conservative lobbyists in both major parties. There never has been enough political support for it to be anything else thanks to that. That doesn't mean it is completely without use. I think they do a fine job of e.g. limiting the amount of damage done via obvious Ponzi schemes.