Wall Street's Cronyism Begins at the SEC
Posted by mshupe 7 months, 2 weeks ago to Government
Cifu, a lawyer by training, understands the markets and their structure better than almost anyone I know on Wall Street — and he’s not bashful about telling you as much. Again, that puts him at odds with some folks even if it’s so refreshing since most Wall Street C-suite types are fearful of offending anyone, especially their regulators at the SEC. That’s why they often sound like simpletons, automatons, or both.
Not Cifu. One of the people Cifu has spoken out against, forcefully and at times eloquently, is Gensler, his primary regulator, no less. Gensler has grand plans to remake the stock market to score brownie points with lefties like the powerful Wall Street-hating senator from Massachusetts, Elizabeth Warren.
Not Cifu. One of the people Cifu has spoken out against, forcefully and at times eloquently, is Gensler, his primary regulator, no less. Gensler has grand plans to remake the stock market to score brownie points with lefties like the powerful Wall Street-hating senator from Massachusetts, Elizabeth Warren.
and those willing to follow orders to steal from Wall Street's customers.
Integrity and ethics are just words for people on Wall St who can rationalize
their looting actions as if they are normal in any free market, never admitting
they rig the market by making looting "legal" using their pet politicians.
The attraction of Wall St is the 30 pieces of silver paid so people will pretend
that ethics don't matter. People take jobs there to be highly paid for finding
ways to cheat the customers (who are the competitors) of Wall St.
These people are as great at lying (to customers and themselves)
as the best Hollywod actors.
The SEC has been conspiring with the street for decades.
https://www.galtsgulchonline.com/faq#...
"Even better are strategic relationships with a slew of other regulators, and the collapse of the FTX crypto-currency derivatives exchange in November 2022 is a case in point. Oddly enough, the news didn’t break until after the midterm elections, and wind of $38 million in campaign contributions from FTX became public. As it turns out, the CEO of FTX also had a Zoom conference meeting with the chairman of the Securities and Exchange Commission, Gary Gensler, on March 23, 2022. This isn’t normal. Gensler’s boss is President Biden, to whom the CEO of FTX directed $10 million in campaign cash for his 2016 election bid. The purpose of this is self-evident — regulatory “protection.”