New SEC investigative chiefs named – big deal

The Securities Exchange Commission today announced that it is naming 5 chiefs to head 5 new investigative units of the SEC. Big deal. It’s not that the SEC re-organizing itself to deal with Wall Street is not a big deal, it is; it’s that without more funding, the SEC remains overwhelmed. Two years ago I created a post in which I demonstrated that the Federal government provides more money to hunt wolves for the benefit of farmers in the United States than it does for the SEC. NO, I AM NOT JOKING. Streamlining the SEC will help the financial markets watchdog, no doubt. But on a scale of 1 to 100 of important actions, this ranks as about a 15. Big deal.

Jason