SEC
Posted by: Bruce Lefavi in investment on
Jul 11, 2009
Why is the SEC wasting so much time on formalities? After Madoff plead guilty in March, for running a massive Ponzi scheme, we all knew that he was going to jail. In fact, he was placed into custody after his confession so, what took the SEC 3 months to ban him from trading for life? Plus, who cares if he has a securities license anyway? I am pretty sure he wasn't going to use his one phone call to place a trade - no that he actually used his license for trading, anyway. He was stealing money, not investing it. He is certainly not going to be doing it now, with a 150 year sentence and solitary confinement. So why were they spending their time on pushing meaningless paperwork. What a waste!
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