SEC: Regulators Determine Porn Not The Cause Of Recent Stock Market Plunge.

http://news.yahoo.com/s/ap/20100511/ap_on_bi_ge/us_market_plunge_investigation/print
SEC: Regulators yet to determine cause of plunge

The head of the Securities and Exchange Commission told a congressional panel Tuesday that regulators need more time to figure out what caused last week's stock market plunge.

Based on recent news reports, the S.E.C. (Sex Enthralled Consumers) may not be capable of investigating a market plunge. The only rise or plunge that the six figure salaried employees of the S.E.C. (Sex Enthralled Consumers) may be capable of noticing, is what takes place on the porno web sites they have been observing during their normal working hours for the past few years. Fortunately the senate and congress will be there to help cover up the incompetence of the S.E.C. (Sex Enthralled Consumers).

Nero Fiddled While Rome Burned. The S.E.C. Yanked While The Economy Tanked.

http://www.theatlantic.com/business/archive/2010/04/did-porn-cause-the-financial-crisis/39414/
Did Porn Cause the Financial Crisis?

The above headline might seem like a joke. It isn't. Senior staffers at the Securities and Exchange Commission were surfing Internet pornography when they should have been policing the financial system. A deeply disturbing SEC memo to Senator Chuck Grassley (R-IA) exposing this problem was reported Thursday night by ABC News.

Is this what they mean when they say the government is "hard at work"? The S.E.C. is "exposing" their newest problem? Did the S.E.C. work "hand in glove" with the businesses they were supposed to oversee? Is the S.E.C. going to wash their hands of this problem?

When they make a movie of this, the federal government and the S.E.C. may think of this as their finest hour, but the movie industry is more likely to think of this as "Romancing The Hand".

Congress is investigating Goldman Sachs to determine how the economic meltdown happened. Don't expect to see congress investigating the S.E.C. to find out why the S.E.C. who was overseeing Goldman Sachs for years let them get away with causing the economic meltdown.

It is too bad that federal government employees are not responsible for their actions. I would think that getting paid $200,000 or more per year should get at least a barely competent employee. But these are government employees, so barely competent is best we can ever expect. And of course, none of these people will ever be punished for gross negligence or held responsible for what they did.

But any regulator who can be bribed with a subscription to an Internet porn site should be willing to work for the federal government for a heck of a lot less money than they are currently being paid.

If this is how the federal government oversees the economy, I think we know what to expect when the federal government oversees the health care industry.

Your Tax Dollars Hard At Work.

http://www.foxnews.com/politics/2010/02/02/sec-workers-investigated-porn-surfing/
SEC Workers Investigated for Porn-Surfing

More than two dozen SEC employees and contractors over roughly the past two years have faced internal investigations after they were caught viewing pornography on their government computers.

Silly me, I thought the employees at the S.E.C. were supposed to be investigating Wall Street. I guess they were busy investigating. But it wasn't Wall Street. Shows you how much I know about how the government works.

The work computer of one regional supervisor for the U.S. Securities and Exchange Commission showed more than 1,800 attempts to look up pornography in a 17-day span: "It was kind of distraction per se," he later told investigators.

Kind of a distraction? Sounds more like a full time job to me.

Now I understand why nobody at the S.E.C. noticed the ponzi scheme Bernard Lawrence "Bernie" Madoff had been running for decades. Even after multiple investigations, the S.E.C. was never able to find anything wrong with the way Bernard Lawrence "Bernie" Madoff was doing business. If it wasn't for Bernard Lawrence "Bernie" Madoff's sons who turned him in, he would likely still be running his ponzi scheme. And the cracked S.E.C. investigative team would still be investigating Bernard Lawrence "Bernie" Madoff and still not finding anything wrong with his business.

It is not a lack of regulation that caused the S.E.C. to fail. It is a lack of staff. All the staff at the S.E.C. who were supposed to be watching Bernard Lawrence "Bernie" Madoff, were watching internet porn instead. If this is the best that the government can do, then why bother having the S.E.C. at all.

This brings new meaning to the phrase "hard at work".

Privacy Is Transparency. The S.E.C. Protects The Citizens By Hiding Information From Them.

http://www.reuters.com/article/idUSTRE60N1S220100124
SEC mulled national security status for AIG details

U.S. securities regulators originally treated the New York Federal Reserve's bid to keep secret many of the details of the American International Group bailout like a request to protect matters of national security, according to emails obtained by Reuters.

Hmmm.

The New York Federal Reserve Bank asked the Securities And Exchange Commission to treat the discussion of the bailout of A.I.G. as if it were a matter of national security. Evidently, in the name of open and transparent government, the S.E.C. agreed with the Fed Reserve that the bailout of A.I.G. should be hidden away from the public and everyone else except the conspirators involved with the bailout.

The current U.S. Treasury Secretary Timothy Geithner, who was the head of the Fed Reserve at the time of the bailout was quoted as saying "I see nothing, I hear nothing, I know nothing!". Now doesn't that sound like the kind of man we want heading up a government bureaucracy? Don't forget U.S. Treasury Secretary Timothy Geithner's inability to fill out his own income tax return correctly.

Aren't you glad that these are the people and organizations looking out for the citizens of the United States in these troubling times?

sound and fury, signifying nothing

http://www.washingtonpost.com/wp-dyn/content/article/2009/11/17/AR2009111701451.html?hpid=topnews
Obama orders task force to fight financial crime

Barack Hussein Obama signed an executive order to investigate and prosecute financial crimes. I am so glad. As far as I know there are currently no laws against those kinds of crime, and there are no organizations trying to catch those kinds of criminals. If there were, then people like Bernard Madoff would not be able to run their schemes for years and years.

Wait a minute! There are organizations who are suppose to protect and serve to prevent this kind of thing! Federal, State and local police, F.B.I., S.E.C., ... a whole alphabet soup of organizations.

That being the case, I wonder why the President of the United States need an executive order to tell these organizations to do their job?