The SEC is a joke and their enforcement is shambolic

The SEC only targets low hanging fruit – pat themselves on the back – make a public statement about it – then don’t even care about the legal follow-through.

They never want to target cases or companies that are difficult, challenging, or embarrassing. They’re an agency that polices broken windows on the street level and rarely goes to the penthouse floors!

They contact blockchain businesses that are holding token sales and force them to close and refund investors. They claim to “maintain fair, orderly, and efficient markets, and facilitate capital formation” but play nice to big corporations, while employees take very high paying private sector jobs after working there!

They shells out billions and billions of fines each year but a large number of those fines go to big banks, some of the most evil companies on earth!!

Their enforcement division is measured by only two metrics, the number of cases filed and the monetary penalties – more than half of SEC employees are made up of enforcement personnel and examination staff – they need serious reallocation of their resources! Enough is enough!! Gary you might have taught that MIT class but you have no business *‘regulating’* the future of global finance!

TLDR; **The SEC is a useless government body that does NOTHING to actually protect investors**, only favors big business, and should stay the HELL away from cryptocurrencies.

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45 thoughts on “The SEC is a joke and their enforcement is shambolic”

  1. The SEC is massively under funded and understaffed and they even admit to as much. To show for it they intentionally pick the “easiest” fights and they have a really bad record in the court system. I can’t get upset with them because they are given toothpicks to fight with while the extremely wealthy have their way with the markets. The insatiable greed of people at the cost of everything/anything, that’s where I direct my frustration.

  2. they are not useless and they dont do nothing ; they are part of the machine , they are an integral part of the corruption , they scare the idiots into kissing the ring , and they threaten anyone trying to be independent/free

    but yes the SEC is 100% NOT here to help/protect YOU at all , they dont give a flying fuck about you the customer/consumer/citizen at all ; they are ONLY here to protect their masters , ie rich hedge funds and bankers [ie the fedres] and whoever else is giving them their marching orders atm

    and currently the SEC has one major priority : to slow the adoption of bitcoin/crypto by the mainstream for as long as is possible to allow their corrupt banker overlords time to gain overwhelming control over this new burgeoning market ; this involves numerous forms of propaganda and lies , but all with the same goal : to keep the lay ppl away from life changing wealth ; to maintain the status quo

    and yes this same or similar argument also aptly sums up most all corrupt governments/religions/banks/systems of control as well

  3. These government agencies are always revolving doors connected to big business. They all trade jobs and enrich one another.

    Strict enforcement in these agencies is a doorstop. Closed door, no money loop.

  4. I’m not qualified to offer an assessment of the entire organization as a whole. However, I’m certainly glad their going after Ripple. That scammy fraud company needs to be removed from the ecosystem.

  5. Thanks for posting. It’s good to get this out in the open.

    In the interest of constructive criticism I suggest people taking 3 measly minutes and calling Congress right now. Even if the message doesn’t impact the Congressperson themselves, you at least have a ***chance of educating the assistants and their network.***

    One of the best things you can talk about *at this instant* is something related to an interview by SEC head Gary Gensler confirmed about a month ago on Bloomberg TV. It’s something blockchain technology can help with.

    Basically, as per Gensler, 90-95% of retail stock orders go to dark pools – where they’re bundled and manipulated – creating massive amounts of possibilities for fraud. Indeed, that’s what we’re seeing now. [Here’s the video and interview – pertinent part starts at ~3:50.]( Dark pools are fucking illegal in the U.K., Australia, and Europe.

    When you call, I suggest something like this:

    >Hi, I’m calling to tell the Senator/Representative about something I recently learned and would like to impress upon him/her the importance to understand and address.

    >About a month and a half ago, the head of the SEC, Gary Gensler did an interview with Bloomberg TV wherein he confirmed that 90-95% of retail stock trades are routed through something called dark pools. That’s to say that 90-95% of trades made by average people – not hedge funds with computers and so on – are being sent to these “dark pools” where there is no transparency and lots of room for fraud and manipulation.

    >Indeed, “dark pools” and the underlying mechanisms associated with them are illegal in the U.K., Australia, and Europe – because they allow for theft, fraud, and manipulation. In fact, that’s what we’re seeing now in the market here in the U.S. on a truly unprecedented scale.

    >For all intents and purposes, the overwhelming majority of the American populace – to put a descriptive characterization to it – is being backstabbed and stolen from on a daily basis due to the hedge funds using these dark pools. The matter is of dire importance for the economy and well-being of the United States. Senator/Representative ____________ needs to look into this and speak out about it. Thank you very much for your time.

    One of the best tools in figuring out who your Congresspeople is at Very easy to find out who you need to call.

  6. You guys stole what I was going to say. So instead, I believe I remember a big finance type that stole hundreds of millions about a decade ago. Was slapped on the wrist, and made to pay a few hundred dollars in fines. That’s the SEC for you.

  7. to much control & regulations is bad but unregulated is not good either

    i stay in the middle, and think crypto still need a little bit of regulation so rug pull project don’t always popup everyday

  8. My first case as a lawyer was a securities investigation where a CEO improperly gave himself 3+ billion $ in company stock. The firm I worked at got him off with a 300 million $ fine. That’s when I learn crime pays really well in wall st.

  9. They don’t go after fucking fraud or scammers,
    Why they don’t go after Safemoon?

    They go after companies who are more legit and transparent.

  10. It’s a mix of lack of funding and political merits. No one cares if you arrested the head drug dealer of the county. On paper you just arrested one dealer. If you arrest two dozen highschoolers for selling a gram of weed, it’ll take a fraction of the resources and you’ll have 24x the arrests under your name.

  11. Finally a post here I actually like. The narrative around this sub turned pussy govt bitch real quick, nice to see a post in the opposite direction.

  12. The SEC’s budget is less than one quarter of Chase Bank profits. This year the SEC will spend $2 billion overseeing $97 trillion in trading activity.

  13. Every Government Agency has been “gutted” whether it is the IRS, EPA, or SEC etc. None do any investigations that may actually change things.

  14. Just another reason on a long list why the government should stay the fuck away from the crypto market in the first place. They’re all crooked as fuck


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