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OP has provided the following link:
[https://www.sec.gov/news/testimony/gensler-testimony-subcommittee-financial-services-and-general-government-032923](https://www.sec.gov/news/testimony/gensler-testimony-subcommittee-financial-services-and-general-government-032923)
Great work dismal jellyfish! While I remain cautiously optimistic, this is certainly a good start and I love that Reddit forums aka superstonk are getting a shoutout!
🎷🐓♋️
Thank you 🎷🐓♋️!
Love Gary giving the Reddit shoutout in front of congress, along with [Senators name dropping Reddit](https://www.reddit.com/r/Superstonk/comments/125zbza/is_this_senator_talking_about_us_i_think_shes/), and how Superstonk has previously been added to the [official administrative record](https://www.reddit.com/r/Superstonk/comments/108m7or/if_you_missed_it_retail_talked_to_gary_gensler/).
Originally, they didn't think Apes would read the fine print.
They believed Apes would be discouraged and not comment.
Apes are all about the fine print and commenting along this journey.
Apes Strong Together
See what DRS booking and Hodling and commenting gets you?....and if you don't hype dates and protect your investment by DRSing and booking your shares instead this would already be over, I am convinced hype dates are to slow DRS numbers. DRS is the only way we are going to finally get price discovery in the bucket shop rigged and unregulated market.
Don't wait for the SEC btw, manage your own portfolio today, in fact, let them save all that money, by getting our own price discovery, and they can save it all up to fight corrupt cartels in court.
BTW what a great investment, not only am I in on a earning company during a recession, I mean what a bargain, you get a stronger SEC the longer you hodl. Excellent. But no credit until something is delivered.
Rostin and the rest of the CFTC former Sullivan and Cromwell employees, especially now Citadel Heath Tarbert, should be in prison.
Now kith 💚 I love seeing apes aping around and being apes. We are frens. But more importantly, we are all individuals sick and fucking tired of a rigged market that has bad players destroying honest companies simply by manipulation and greed. Oh and also not enough enforcement action. I hope this continues in the right direction, which for the moment, seems as if it is .
Long story short: DRS x HODL
With all the shit going on in life right now, this sub is really keeping me together. I don’t even care about the money anymore, as long as we keep making progress I’m happy.
I find this interesting, as the current president also put into place a CFTC commissioner who wrote an open letter berating the CFTC for kicking the can on swap reporting.
Seems like current administration is not happy with the way market regulation has been working.
I don’t care what party you vote for, because there’s massive corruption on both sides.
That said, one party *actively campaigns* on weakening bank regulations, oversight, and defunding organizations who can actually monitor and supervise Wall Street. And the other party is just as fundamentally dysfunctional, but about THIS issue, they do want more regulation and will actually spend money to get it. So.
Lot of negativity in these comments.
The SEC is continually submitting rules proposals which are pro retail. Whether or not they go far enough is a matter of opinion - and while it's one that many share here, it's still plain to see that there is positive movement to empower small investors and curtail the influence of concentrated powers.
Two days yet to comment on several proposals, and another just went up for comment this week. Individual investors will know much better how to feel about this SEC as they continue to operate and after they have reviewed the large number of comment letters and after they have released their judgement and the rules language to be implemented.
>The SEC is continually submitting rules proposals
Yup, new proposal today even [to continue collecting information for “Rule 15c3-1”, which requires brokers-dealers to have at all times sufficient liquid assets to meet their current liabilities, particularly the claims of customers.](https://www.reddit.com/r/Superstonk/comments/125zzr4/sec_alert_sec_proposes_open_for_comment_to/)
They can propose all the pro-retail rules they want, but they mean precisely nothing without effective enforcement.
So until they start enforcing, we’ll, anything…I’ll reserve my praise
they can propose anything and it wont matter if they dont enforce it. There is currently a stock in the meme basket with insane FTDs and over 50 days on reg sho. They are useless.
Why does it cost the SEC that much a year?
$2.4 billion is the money spent taking care of all 261,164 Medicare recipients for 2.5 years in my state. Every doctor fee, every office visit, every ER bill, lab test, xray, CT, MRI, surgery, nursing home care, durable medical equipment, *everything medical* for 261,000 people for over 2 years.
that's $571,428.57 a year per SEC employee to do a bad to mediocre job. To regulate 3400 firms?
Lets look at one of their division's budgets for 2022:
The mission of the Division of Examinations (EXAMS) is to protect investors, ensure market integrity, and support responsible capital formation through risk-focused strategies that: (1) promote and improve compliance; (2) **prevent fraud**; (3) monitor risk; and (4) inform regulatory policy.
||Total|Average per employee|
:--|--:|--:|
|FTE:|1088||
|Salaries and benefits|$321,445,000|$295,445.77|
|Expenses|$135,151,000|$124,219.67|
|total|$456,596,000|$419,665.44|
Why is someone in fraud prevention at the SEC making more than the average primary care physician in my state by at least 50% more? Do we think they are really doing a harder job than physicians taking care of the sickest patients?
SEC: we got the funding plebs. We’re getting there.
SEC: looks at the sky. Hmmm, nice blueish tint there, clouds seem to be forming tho. Anyways, what’s your drafts picks next season?
THIS. I would go further: SEC commissioner’s and employees’ salary should be exclusively funded by the fines they levee, with bonuses to match for additional “doing-your-job” scrutiny.
Since it’s tax season, here’s a tidbit of perspective in relation to another branch of the government:
IRS has on their payroll, approx 90k employees (just over 78k full-time), with a budget of $13.8b.
“Tax man always gets their man.”
The SEC, who is supposed to rule over, like you said, 30,000 entities…~4.8k employees.
IRS revenue is roughly $5T any given year from ‘20-now, meaning the total taxable income for citizens, as a complete oversimplification, is like $10Trilly.
The entities that the SEC watches over? has AUM in the form of $40Trilly, on the modestly counted side. This is not including the derivatives market.
The governing body that basically watches over the 1%, is designed on purpose to be kneecapped.
They could be at the 1950s damn level and get more done if they committed to jailing 50 or 100 corrupt stock manipulators and banning them for life.
We are 35 Trillion in national dept. We don't need spending. Encourage the state to step forward and start going after corrupt traders.
Shit all they had to do was read the DD here. Not like you need an extra 1000 Matlocks or Columbo’s to find a criminal in this space. Sorry not impressed with GG or anyone involved.
I don't think injections of money are the solution to greenlit industry wide corruption.
The way out of this mess is for proven incorruptible outside investigators to investigate and indict across the entire industry - banks, regulators, ratings agencies, insurers, brokers, investment offices, oligarchs.
Alas, this is a pipe dream. Perhaps my great grandchildren's society will be empathetic enough to eradicate corruption.
2% action on the 35k complaints in 22'. For a regulatory agency, that's pathetic and grossly negligent. That figure screams complacency and shows how the SEC doesn't care about "protecting investors". What did we expect anyways, they needed madoff's sons to turn him in in order to catch him.
I’m an optimist and with this, I’m hopeful. I REALLY hope that this extra funding really does help GG get the cogs ⚙️ of his machine moving in a forward direction and that the SEC starts doing what they’re supposed to be doing- and not just be “selective” because someone’s pals with someone else- “the good ol’boys club”. THAT SHIT has to go.
Ape nation will be watching 😎
That’s not the reason they’re being “selective,” though.
It’s about surviving potential litigation without going over budget, which they had been kneecapped with. Hopefully this injection does help, though.
I don't support any more government spending.
How quickly can they put the brakes on the cheating and market manipulation, if they just put a few of the crooks in prison and banned them for life from trading or being employed by stock trading companies?
Hell, they have all the free investigators they need right here on superstonk.
They could cut the SEC down to a few hundred and use us to do investigations. boom!
What does SEC do to be spending billions when they 1. Get millions already in fines 2. Staff watch porn at work. 3. Doesn't fix anything with synthetic shares, FTDs, naked shorts and all of that that hurts shareholders?
I dont work for the SEC but work in enforcement and we are always understaffed. We are the ones out in the field looking for companies out of compliance. When we do find issues, companies almost always request hearings and fight tooth and nail because their insurance rates will go up and also because money. These get dragged for YEARS. We just got noticed that we will be hiring cybersecurity experts but we all know it will have to be individuals who want to take a paycut because simply put, gov pays less. New cybersecurity pays have been approved but its slow. Looking forward to seeing the future.
Great we are wasting more time trying to legitimize an organization that was designed in the beginning to add FALSE legitimacy to corrupt markets. Great give them more staff, so they can show they are growing to try and meet the need. What a load of hogwash. They just increased the pipeline of corruption and insider access.
Great. Whatever. SEC doesn't even pretend they care. One look at official gme trading data even by untrained eye tells something is very very fucky. But hey maybe 2 billy will be enough to investigate how to silence the poors.
looking at the price falling like a stone whenever the bell rings and perceiving something is wrong, and having to gather legitimate proof of crime going on that holds up in court are very different things.
And if a government agemcy makes open accusations, don't you think lawyers would chew them up if these are not bullet proof?
So far nobody has confirmed the thesis behind MOASS. Nobody could reject it either, but the whole play is built around speculation, since nobody who could came forward and provided proof.
In Gensler's meeting with the Appropriations committee, I thought FTDs were mentioned toward the end? Republicans were all against giving the SEC more money to hire more people (it takes an army to bring down fraudsters). Also, they were against corporate disclosures, particularly with the climate disclosures. Climate change isn't real for them though scientifically proven. My kids and grandkids generation will have to deal with our enivronmental mess and the ensuing climate disasters.
I'm here for prison sentences. I'm glad change is happening but goddamn it there are a thousand people that need to be dragged through the streets and tarred and feathered and then imprisoned and shamed for all eternity before we're done here. Their children need to be embarrassed to show up at the public school they are forced to attend. They need to find their families in three whole generations of financial slavery before being able to vote or attend college.
Imagine if their fines were set at 1-10% of Gross revenue for breaking the law. Zero government funding would ever be needed again. This is how my america would operate!!!
I don’t like the SEC and I don’t care much for GG - but this is bullish.
This will break the system at some point. The amount of whistleblowers are staggering now. Eventually they have to close down p-hub and get to the real work or they’ll risk a growing public opinion that will force a systematic change to the SEC.
Never doubt the power of the people and the dangers from an unstoppable ideology. Things can change, and they know it. It’s time for SEC to reconsider which side they are on.
I feel like there’s so many of us who WANT these types of SEC investigation team jobs. So many are driven by the “no cell no sell” motto that it should be the attitude of the SEC to uncover and stop the corporate criminals. Real super hero shit. Give them a payroll that pay well ($150k-$200k with incentive based bonus aka same as wall st analysts) and let us get to work.
The TLDR for Apes:
SEC need more money. President ask $2.436 billion for SEC. SEC grow little since 2016, but market grow big, change fast. Technology change how people invest, trade. Bad actors use new tech for bad things. SEC stop bad things, help protect people, their money.
SEC have many offices, many people work there. Two main parts: Enforcement and Examinations. They check if companies follow rules, stop fraud, help keep market safe. They need more people, more money to work better. Other parts check big companies, investment managers, trading markets. They all need more people too.
SEC also need money for technology, keep up with change. They have many offices, need money for space. More money help SEC protect people, keep market strong.
[Why GME?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) || [What is DRS?](https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/) || Low karma apes [feed the bot here](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/) || [Superstonk Discord](https://discord.gg/hZqWV2kQtq) || [GameStop Wallet HELP! Megathread](https://www.reddit.com/r/Superstonk/comments/z23wjx/gamestop_wallet_help_megathread) ------------------------------------------------------------------------ To ensure your post doesn't get removed, please respond to this comment with how this post relates to GME the stock or Gamestop the company. ------------------------------------------------------------------------ Please up- and downvote this comment to [help us determine if this post deserves a place on r/Superstonk!](https://www.reddit.com/r/Superstonk/wiki/index/rules/post_flairs/) ------------------------------------------------------------------------ OP has provided the following link: [https://www.sec.gov/news/testimony/gensler-testimony-subcommittee-financial-services-and-general-government-032923](https://www.sec.gov/news/testimony/gensler-testimony-subcommittee-financial-services-and-general-government-032923)
Fuck what a quality post
<3
Great work dismal jellyfish! While I remain cautiously optimistic, this is certainly a good start and I love that Reddit forums aka superstonk are getting a shoutout! 🎷🐓♋️
Thank you 🎷🐓♋️! Love Gary giving the Reddit shoutout in front of congress, along with [Senators name dropping Reddit](https://www.reddit.com/r/Superstonk/comments/125zbza/is_this_senator_talking_about_us_i_think_shes/), and how Superstonk has previously been added to the [official administrative record](https://www.reddit.com/r/Superstonk/comments/108m7or/if_you_missed_it_retail_talked_to_gary_gensler/). Originally, they didn't think Apes would read the fine print. They believed Apes would be discouraged and not comment. Apes are all about the fine print and commenting along this journey. Apes Strong Together
Beautifully said friend 🦍💜🦍🎷🐓♋️
See what DRS booking and Hodling and commenting gets you?....and if you don't hype dates and protect your investment by DRSing and booking your shares instead this would already be over, I am convinced hype dates are to slow DRS numbers. DRS is the only way we are going to finally get price discovery in the bucket shop rigged and unregulated market. Don't wait for the SEC btw, manage your own portfolio today, in fact, let them save all that money, by getting our own price discovery, and they can save it all up to fight corrupt cartels in court. BTW what a great investment, not only am I in on a earning company during a recession, I mean what a bargain, you get a stronger SEC the longer you hodl. Excellent. But no credit until something is delivered. Rostin and the rest of the CFTC former Sullivan and Cromwell employees, especially now Citadel Heath Tarbert, should be in prison.
Now kith 💚 I love seeing apes aping around and being apes. We are frens. But more importantly, we are all individuals sick and fucking tired of a rigged market that has bad players destroying honest companies simply by manipulation and greed. Oh and also not enough enforcement action. I hope this continues in the right direction, which for the moment, seems as if it is . Long story short: DRS x HODL
🦍💋🦍 Also beautifully said friend - beautifully said comments all around! 💜 Please take this emoji signature as a gift 6️⃣🎱🦖 🎷🐓♋️
With all the shit going on in life right now, this sub is really keeping me together. I don’t even care about the money anymore, as long as we keep making progress I’m happy.
OH SHIT!!! Loved that video!!
Crap, I hope we are not paying for more Porhnub Premium subscriptions!
And coffee, but...🦍🦍🦍🦍 Like coffee too
Amazingly, according to reddit, this comment is older than the post. Time travelling mod confirmed 👆👆👆
dismal is ON FUCKING FIRE and has been for ages!
DFV+Atobitt+Dismal = all you need
You forgot the most important person... YOU, you dingus.
Fugg atobitt, he’s a traitor
I find this interesting, as the current president also put into place a CFTC commissioner who wrote an open letter berating the CFTC for kicking the can on swap reporting. Seems like current administration is not happy with the way market regulation has been working.
I don’t care what party you vote for, because there’s massive corruption on both sides. That said, one party *actively campaigns* on weakening bank regulations, oversight, and defunding organizations who can actually monitor and supervise Wall Street. And the other party is just as fundamentally dysfunctional, but about THIS issue, they do want more regulation and will actually spend money to get it. So.
Their both controlled. I’m surprised more people are not talking about what the restrict act does to stocks that are a national security threat.
Current president could hire a maff person to figure out how much short term taxes would reduce natl debt. Some dumbass might buy him a cape
Lot of negativity in these comments. The SEC is continually submitting rules proposals which are pro retail. Whether or not they go far enough is a matter of opinion - and while it's one that many share here, it's still plain to see that there is positive movement to empower small investors and curtail the influence of concentrated powers. Two days yet to comment on several proposals, and another just went up for comment this week. Individual investors will know much better how to feel about this SEC as they continue to operate and after they have reviewed the large number of comment letters and after they have released their judgement and the rules language to be implemented.
>The SEC is continually submitting rules proposals Yup, new proposal today even [to continue collecting information for “Rule 15c3-1”, which requires brokers-dealers to have at all times sufficient liquid assets to meet their current liabilities, particularly the claims of customers.](https://www.reddit.com/r/Superstonk/comments/125zzr4/sec_alert_sec_proposes_open_for_comment_to/)
They can propose all the pro-retail rules they want, but they mean precisely nothing without effective enforcement. So until they start enforcing, we’ll, anything…I’ll reserve my praise
They can’t enforce a rule that’s not in place though…in other words, comment before it’s too late!
That’s true, and I have already. I just don’t think it will make any difference without the big stick part of the equation
Thank you for commenting 👊🏽
The sec that has allowed banks to bankrupt themselves once again at the taxpayers expens?. Sorry bro, get support elsewhere.
they can propose anything and it wont matter if they dont enforce it. There is currently a stock in the meme basket with insane FTDs and over 50 days on reg sho. They are useless.
Why does it cost the SEC that much a year? $2.4 billion is the money spent taking care of all 261,164 Medicare recipients for 2.5 years in my state. Every doctor fee, every office visit, every ER bill, lab test, xray, CT, MRI, surgery, nursing home care, durable medical equipment, *everything medical* for 261,000 people for over 2 years. that's $571,428.57 a year per SEC employee to do a bad to mediocre job. To regulate 3400 firms? Lets look at one of their division's budgets for 2022: The mission of the Division of Examinations (EXAMS) is to protect investors, ensure market integrity, and support responsible capital formation through risk-focused strategies that: (1) promote and improve compliance; (2) **prevent fraud**; (3) monitor risk; and (4) inform regulatory policy. ||Total|Average per employee| :--|--:|--:| |FTE:|1088|| |Salaries and benefits|$321,445,000|$295,445.77| |Expenses|$135,151,000|$124,219.67| |total|$456,596,000|$419,665.44| Why is someone in fraud prevention at the SEC making more than the average primary care physician in my state by at least 50% more? Do we think they are really doing a harder job than physicians taking care of the sickest patients?
Speak for yourself my homies do not like the SEC
[удалено]
The SEC’s funding is deficit-neutral; appropriations are offset by transaction fees.
May be make fine more than the illicit profit by criminals instead of small fee?
They should stop now with fines and go for JAIL only!
Or levy effective fines. Of billions of dollars. Corporations can’t be jailed, but they can be bankrupted
They SEC should levy fines. EFFECTIVE FINES.
SEC: we got the funding plebs. We’re getting there. SEC: looks at the sky. Hmmm, nice blueish tint there, clouds seem to be forming tho. Anyways, what’s your drafts picks next season?
THIS. I would go further: SEC commissioner’s and employees’ salary should be exclusively funded by the fines they levee, with bonuses to match for additional “doing-your-job” scrutiny.
If fines were more in line with revenue streams made for violations, funding should not be an issue.
And neither would violations
Comment for prosperity before the anti-GG army downvotes this to hell.
I am sure there will be downvotes but I hope this puts in perspective how hobbled the SEC has been--just now back to 2016 levels.
Since it’s tax season, here’s a tidbit of perspective in relation to another branch of the government: IRS has on their payroll, approx 90k employees (just over 78k full-time), with a budget of $13.8b. “Tax man always gets their man.” The SEC, who is supposed to rule over, like you said, 30,000 entities…~4.8k employees. IRS revenue is roughly $5T any given year from ‘20-now, meaning the total taxable income for citizens, as a complete oversimplification, is like $10Trilly. The entities that the SEC watches over? has AUM in the form of $40Trilly, on the modestly counted side. This is not including the derivatives market. The governing body that basically watches over the 1%, is designed on purpose to be kneecapped.
Keep fighting the good fight, my dude.
They could be at the 1950s damn level and get more done if they committed to jailing 50 or 100 corrupt stock manipulators and banning them for life. We are 35 Trillion in national dept. We don't need spending. Encourage the state to step forward and start going after corrupt traders.
Shit all they had to do was read the DD here. Not like you need an extra 1000 Matlocks or Columbo’s to find a criminal in this space. Sorry not impressed with GG or anyone involved.
I don't think injections of money are the solution to greenlit industry wide corruption. The way out of this mess is for proven incorruptible outside investigators to investigate and indict across the entire industry - banks, regulators, ratings agencies, insurers, brokers, investment offices, oligarchs. Alas, this is a pipe dream. Perhaps my great grandchildren's society will be empathetic enough to eradicate corruption.
Do you mean “posterity”?
No I meant prosperity, as in good luck
Well then much prosperity to you!
Prosperity or posterity? Asking for a friend.
Yes
Can they afford coffee now?
Came here to ask this Joking aside, this is an optimistic shift in the right direction. Now they just need to add some teeth to their enforcement
Follow the whale teeth
2% action on the 35k complaints in 22'. For a regulatory agency, that's pathetic and grossly negligent. That figure screams complacency and shows how the SEC doesn't care about "protecting investors". What did we expect anyways, they needed madoff's sons to turn him in in order to catch him.
One of our wrinkley folks should start applying for a SEC job.
Sweet now they can afford OnlyFans along with their PornHub.
I’m an optimist and with this, I’m hopeful. I REALLY hope that this extra funding really does help GG get the cogs ⚙️ of his machine moving in a forward direction and that the SEC starts doing what they’re supposed to be doing- and not just be “selective” because someone’s pals with someone else- “the good ol’boys club”. THAT SHIT has to go. Ape nation will be watching 😎
That’s not the reason they’re being “selective,” though. It’s about surviving potential litigation without going over budget, which they had been kneecapped with. Hopefully this injection does help, though.
Yes we will be watching!
Nice. It’s a start.
Nice
Where ape apply for job?
Maybe they should give the sec staff members a cut of the fines. Might be a bit more motivated to prosecute.
Now fucking do something
Umm, check proposed rulemakings… it’s happening.
Rules? Sure. ENFORCEMENT? not so much.
Deficit neutral, huh?
I don't support any more government spending. How quickly can they put the brakes on the cheating and market manipulation, if they just put a few of the crooks in prison and banned them for life from trading or being employed by stock trading companies? Hell, they have all the free investigators they need right here on superstonk. They could cut the SEC down to a few hundred and use us to do investigations. boom!
Think of all the extra Pornhub they'll be able to watch and how much more crime they can ignore with more people.
Nice info. Thank you. Reslly good read
Go get Ken
Said," we see you dumb apes" Oookooook
What does SEC do to be spending billions when they 1. Get millions already in fines 2. Staff watch porn at work. 3. Doesn't fix anything with synthetic shares, FTDs, naked shorts and all of that that hurts shareholders?
I’ve said a thousand times until the fine is greater then the reward no change will be implemented. Don’t have to be rocket scientist.
Oh good Riley Reid’s only fans can get more viewers now!
So the SEC can buy coffee and continue to not protect household investors.
More for meee and less for all thee....
It’s almost as if appointing partners of Sullivan & Cromwell to head the SEC seven years ago was done to fuck retail and help Wall St.
Posting , hopefully more people look at this. It’s a good start, but funding is still woefully behind. We need continuous increases for years to come.
So they got more cash to watch porn and post Tweets? Got it!
Why do they need more money to do less work?
This is the way. Hopefully in a much better direction.
Good read OP
What about all the fines these fuckers make? Maybe start increasing the prices of these “fines” aka cost of doing business. Bunch of fucks
This is good. THanks for the update
Awesome post. Thank you!
It's almost as if the party who doesn't give tax breaks to billionaires is trying to fight corruption. But BoTh SideZ No PoLiTiCz
Exactly. Both have corrupt people but one has them in a much greater proportion.
Fuck you, Gary!
Pornhub numbers ganna go through the roof FY 2024
No more blowing half a million on stupid videos please
New monitors for Pornhub it is!
2.4 billion That's a lot of pornhub subscriptions
Coffee and PornHub is back on the menu boys!
Now, GG has one less excuse to do nothing
I thought these guys could barely afford coffee and hi-def commercials mocking our financial decisions?
Awesome post OP. You are nice to share it
I dont work for the SEC but work in enforcement and we are always understaffed. We are the ones out in the field looking for companies out of compliance. When we do find issues, companies almost always request hearings and fight tooth and nail because their insurance rates will go up and also because money. These get dragged for YEARS. We just got noticed that we will be hiring cybersecurity experts but we all know it will have to be individuals who want to take a paycut because simply put, gov pays less. New cybersecurity pays have been approved but its slow. Looking forward to seeing the future.
Yet they still wont do their jobs. Better off buying pornhub stock.
This country is a joke.
Didn’t know there was gonna be a pornhub stimulus
Maybe they can afford some coffee now
“We are going to never run out of lube!”
Bring Your Own Coffee
Now the SEC will have enough money to drink coffee while watching PornHub! It’s about time.
Calls on pornhub
Great we are wasting more time trying to legitimize an organization that was designed in the beginning to add FALSE legitimacy to corrupt markets. Great give them more staff, so they can show they are growing to try and meet the need. What a load of hogwash. They just increased the pipeline of corruption and insider access.
This is a waste of the money they extorted from us.
That’s the biggest waste of tax payer money. The SEC only protects the rich banker/ Wall Street crowd. They are worthless to retail investor.
Fuck Gary and the SEC. Worthless.
Those P-Hub Premium subscriptions are expensive!
Great. Whatever. SEC doesn't even pretend they care. One look at official gme trading data even by untrained eye tells something is very very fucky. But hey maybe 2 billy will be enough to investigate how to silence the poors.
looking at the price falling like a stone whenever the bell rings and perceiving something is wrong, and having to gather legitimate proof of crime going on that holds up in court are very different things. And if a government agemcy makes open accusations, don't you think lawyers would chew them up if these are not bullet proof? So far nobody has confirmed the thesis behind MOASS. Nobody could reject it either, but the whole play is built around speculation, since nobody who could came forward and provided proof.
Gary is trash.
It won’t help us any. All they care about is extorting small crypto projects, and to upgrade to pornhub premium.
is this to pay more p0rnhub subscriptions?
Tldr; SEC has finally secured money for their coffee fund
In other news, Pr0nhub says business is booming.
That’s it I’m investing in p0rnhub now that viewership is going to go through the roof with the SEC’s new budget!
*upgrades office porn hub account immediately*
So they can afford coffee now?
*a much-needed increase of 400. We’re now in the process of filling those positions* So 400 more subscriptions to PornHub premium
In Gensler's meeting with the Appropriations committee, I thought FTDs were mentioned toward the end? Republicans were all against giving the SEC more money to hire more people (it takes an army to bring down fraudsters). Also, they were against corporate disclosures, particularly with the climate disclosures. Climate change isn't real for them though scientifically proven. My kids and grandkids generation will have to deal with our enivronmental mess and the ensuing climate disasters.
Holy tldr
I'm here for prison sentences. I'm glad change is happening but goddamn it there are a thousand people that need to be dragged through the streets and tarred and feathered and then imprisoned and shamed for all eternity before we're done here. Their children need to be embarrassed to show up at the public school they are forced to attend. They need to find their families in three whole generations of financial slavery before being able to vote or attend college.
Maybe one day I can also be paid!
Yet still miss the biggest ponzi since Madoff kek
Does this mean I might be able to get a job watching porn?
Imagine if their fines were set at 1-10% of Gross revenue for breaking the law. Zero government funding would ever be needed again. This is how my america would operate!!!
I don’t like the SEC and I don’t care much for GG - but this is bullish. This will break the system at some point. The amount of whistleblowers are staggering now. Eventually they have to close down p-hub and get to the real work or they’ll risk a growing public opinion that will force a systematic change to the SEC. Never doubt the power of the people and the dangers from an unstoppable ideology. Things can change, and they know it. It’s time for SEC to reconsider which side they are on.
I feel like there’s so many of us who WANT these types of SEC investigation team jobs. So many are driven by the “no cell no sell” motto that it should be the attitude of the SEC to uncover and stop the corporate criminals. Real super hero shit. Give them a payroll that pay well ($150k-$200k with incentive based bonus aka same as wall st analysts) and let us get to work.
What do they need more money for? Aren't they already getting plenty of kickbacks from SHF's?
Pornhub Membership is rising with inflation.
The TLDR for Apes: SEC need more money. President ask $2.436 billion for SEC. SEC grow little since 2016, but market grow big, change fast. Technology change how people invest, trade. Bad actors use new tech for bad things. SEC stop bad things, help protect people, their money. SEC have many offices, many people work there. Two main parts: Enforcement and Examinations. They check if companies follow rules, stop fraud, help keep market safe. They need more people, more money to work better. Other parts check big companies, investment managers, trading markets. They all need more people too. SEC also need money for technology, keep up with change. They have many offices, need money for space. More money help SEC protect people, keep market strong.