SEC Commissioner 151A Dissent

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Dec 23, 2008 9:21 am




Once, again, the dumb people outvote the smart people.

 http://www.sec.gov/news/speech/2008/spch121708tap.htm


Dec 23, 2008 10:06 am

Great find, Hank. I'm not sure the non-thinkers on the board will understand what the commissioner wrote, but a great read nonetheless.

Dec 23, 2008 5:02 pm

Great post. 

Dec 24, 2008 6:04 am

For those of you who have viewed this thread, and haven't read the link, read it!

Dec 24, 2008 8:12 am

Here, here.  A tremendously well written dissent to a terribly flawed overreaching of the SEC's authority.  You would think the Commission would have learned something about trying to unilaterally expand their authority from their recent ill-fated attempt with the Broker/Dealer exemption rule, which was subsequently vacated by the courts.  Apparently not.  Here's hoping this attempt meets a similar fate in the near future.