SEC Commissioner 151A Dissent
Once, again, the dumb people outvote the smart people.
Great find, Hank. I'm not sure the non-thinkers on the board will understand what the commissioner wrote, but a great read nonetheless.
For those of you who have viewed this thread, and haven't read the link, read it!
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.