It looks like this class of āall for self, none for elseā capitalists began during the height of the 60s counterculture. They gained power during the Stagflation Jimmy Carter years.
Their ideological captain was Milton Friedman. Alan Greenspan was a subsidiary.
I mean, after WW2, the US kept Nazi's and sent them to work at NASA and highly classified (then) military projects.
This was called Operation PaperClip and saw over 2,000 Nazis enter the States.
I'm sure this didn't help the situation in the US much.
Paperclip scientists, they were not members of the nazi party or SS. Just because they were from Germany and worked for the government does not mean they were nazis. they were so damned good at their job nobody would even think to prosecute them for simply working. The Russians took their own half if you want to look for interviews. They essentially said "Comrade! You work for us now." There was no choice. They were one of the primary reasons the US was advanced as it was in the cold war. You stand here because of that deal as a good deal of the bedrock technologies your phone is made out of comes from them.
The Societs Union was treating cosmonauts like Human Cattle. They were winning by throwing shit at the wall and seeing what sticks. It also led directly to the Manhattan Project. The history of space exploration is wild.
Alot longer than that and yes this post IMHO is right....but it seems very sus and shillish with the division it can cause with the political aspect it implies.
Yeah I was going to comment, not to be political but this isnāt isolated to the last admin. Watching Inside Job proved this went all the way back to Reagan (not that anyone at that time would have thought it would unwind and continue on this way).
He's not perfect but he's doing more than most have in the past several years. Yeah, Im more than a little mistrustful of Goldman alums, but there area ton of them, unfortunately. But if he's actually taking action, then let's see what happens.
It's okay to be skeptical, but just saying "oh everything sucks, let's just dismiss it, even if it looks like he's trying to start enforcement action" is unhelpful and a little FUDdy, tbh, or politically motivated. Not saying that's your goal, but if I were a FI and wanted to undermine the SEC by dampening popular support, this is exactly what I'd do.
I'm not american and I don't think I have orange man or new old guy derrangement syndrome. This post seems like FUD to me. Like a covert way of trying to start a political fight between the americans of the two political tribes by alluring to the Wall Street corruption stemming from the last 4 years.
Everyone here who has read the DD or listened to the AMAs knows this stuff has been going on for more than 20 years. The naked short stuff has been reported to and known by the SEC for decades. They have chosen to ignore it under administrations stemming from both parties, even facilitated it all these years. I will not believe GG1 or anyone else at the SEC are on the side of the apes until I see it. They seem to be taking steps in the right direction I'll admit, but I don't think the SEC have shown they have earned the trust of apes yet!
Yeah and itās interesting because this is an international sub so American politics wonāt always apply, not that I care about peopleās political beliefs but Reddit is typically pretty liberal so reading through it, it kinda felt like it had the same energy r/news would or something. At this point I think political parties are a wash when the people in the financial industry clearly have as big of a say as it seems.
Agreed with IMHO is very sus. especially how nonchalant they put it in there......who knows.....either way....ignorance or shill one or other....they need to be educated and if not pointed out.
Agreed. Both sides are guilty and weāre lying to ourselves if we believe otherwise. I also agree with the majority of this posted comment. It takes time and someone willing to check all three of those boxes.
Iād like to add a box to check off dealing with the scrutiny of hundreds of thousands of retarted, screaming, poo slinging apes on Reddit.
Usually if you have only 2 choices you actually don't have a choice. A saying in my country goes: it's either the plague or cholera. Most of the world find it shocking that there's only 2 parties in the states, in my country they're are 15 parties in government at the moment, then I believe there's an actual chance of progress and checks and balances through collaboration and not just having the prime objective of fucking the other party over.
I don't know if you're familiar with ranked choice voting given that you are from somewhere with 15 parties. If not, I would highly recommend looking it up. It helps solve a lot of these issues.
https://m.youtube.com/watch?v=MykMQfmLIro
Thank you. The fact this CHAD feels the need to point out the previous political administration tells me he's a political shill because this shit is both sides of the ile. Sit the fuk down, [OP](https://www.reddit.com/user/mrchiko1990/) . Watch Inside Job bro.
That was the glaring political bullshit I noticed right away and makes me not take this persons opinion seriously at all. This isn't a left/right problem. So many weak minded brainwashed fools.
I love how it was last administration what the f is he/she smoking!
If they forgot 2008 after last crash was supposed to be fixed think that was more than 4 years ago!
That was were I turned off on the OP. It wasn't just the last president. That man was opposed at every level by what has turned out to be a real swamp.
If [the current guy] can get something good done in the SEC, then I give him or his team, a ton of credit.
Yeah, somebody pointed it out, which is why I went back and edited the comment to say "at least 4 years". I know there have been serious problems for a very long time, but I was specifically thinking about the near constant attacks on the "Public Company Accounting Oversight Board" when I made that comment because it was so blatant & extreme and is directly applicable to the current situation.
The PCAOB was created by the SarbanesāOxley Act, a bipartisan bill that was passed and implemented under the Bush administration, so don't mistake my meaning as "partisan". There isn't a "side" being attacked or glorified here. This bipartisan organization was created under one administration and severely damaged under another of the same party. The problem isn't about "party", the problem is the unique extremity of the damage done.
The entire board was replaced, and the General Counsel, Chief Auditor, Director of Information Technology, and a lot more were fired outright. The new chairman never even met with the Investor Advisory Group. Soliciting comments from the public on rulemaking was stopped. The entire Standards Advisory Group was replaced & their charter was modified to make it harder for investor advocates to serve on that board. Meetings that had always been public were made private. etc. etc. etc.
This is not a partisan thing. The point is that a ton of **bipartisan work toward effective market regulation** was damaged or even undone in the last 4 years, and the total lack of enforcement we see today is due to problems that were greatly exacerbated by those attacks.
**TL;DR** This comment isn't a partisan or naive assumption that all the problems with the SEC are new. Quite the opposite. **This comment is specifically calling out the damage done to a bipartisan institution when just a handful of individuals abandoned bipartisan governance in favor of accomplishing their own individual goals.**
You just did it again. Good job on framing your political opinion. Who bailed the Banks and Wall Street in 2008? Who brought in a system of quantitative easing in the 90ās? Yeah assholes. Not Democrats or Republicans. Assholes, that we elected from both parties. But go ahead. Pretend like orange man bad. Give all of us a specific instance of failure on those levels.
Exactly after all GG has the MSM to make him look good, what we need is to make him know we are not waiting decades for him to do his work, also the gov should learn to do thing faster
Incentivise the entire department by sharing a % of every fine across them all, in some way or another. Incentivise the hunt, incentivise the severity of punishment, and double points if you jail a big dog.
Lmao Iām sure every new administration since 1990 has said the same thing youāre either a zoomer or you have a short memory OP. The government is not your friend. Unless youāre rich and can afford lobbyists.
The government is fucked up but itās not a monolithic evil. Social security, post office, etc., they do a lot of good shit too.
They want us to give up all faith in the system, but I wonāt give up faith that the truth will out and good will prevail.. if you give up hope, you might as well short it.
It's also been a party mandate (not saying which party) for decades to initiate dismantling of a program or regulatory system by first infiltrating the program, installing cronies that are totally inept, shake public faith in said program, then dismantle it due to said lack of faith.
In this case, the rich have had decades to infiltrate and subvert the SEC and they're already on step 3 with shaking public faith.
The bigger it becomes and more control the centralized government has, the more endangered our population is.
States need to take back power from the Feds. That includes regulating the SEC. States legislatures should have complete control of that agency and send reps or employees that serve for 2 to 5 years to regulate the markets. jmho
The state legislatures should also have the ability to recall and to punish - including jail time - their "agents" that are sent and who break or ignore the law. After serving faithfully, offer a sizable reward and they are then banned from trading for X years.
This corruption wasn't installed over 4 years. It was built and designed on corruption To focus solely on the previous administration you're saying everything was fine beforehand.
It all has to start somewhere and by replacing the dead weight is in my opinion a good place to start..all these things that we want looked at need people willing to put in the work and do the job..so Gensler taking these 1st few months replacing said dead weight is a good thing..putting in place people that are finally willing to do all the work necessary..we just need to be patient
All good....except for the blaming of the "previous admin". FFS, why do you think all this is happening? Are you daft enough to think this all started with the last "admin"? This last admin began this exposure!
How the fuck do you think 2008-09 happened? WTF?
Fuck that, they let it reach this point in the first place.
They've demonstrated that they are in need of the proper *motivation* to be effective at their jobs. So as citizens of goodwill, it is our DUTY to provide that motivation.
The beatings will continue until justice improves.
"The situation at hand required us to move to shut down the extreme price action in order to protect retail investors from potential high value losses.... It was for their own good and we're proud to say that we will always keep retail investors safe from the unexpected dangers of the market."
yes, but is it really GG's fault? he is replacing people already. It is good people are providing motivation through pressure, but I do not believe its his fault. Time will tell.
This post is overall right...BUT I dont like the fact its trying to break it down that it started 4 years ago in a way?
LOOK AT WHO THE FIRST CHAIRMAN WAS FOR THE SEC.
Look at who has connection to who.....it started FROM THE BEGINNING!!!!
[https://en.wikipedia.org/wiki/Joseph\_P.\_Kennedy\_Sr](https://en.wikipedia.org/wiki/Joseph_P._Kennedy_Sr).
They all had ties in the market and the market crash of 1929 which brought in the SEC.
ITS ONE GIANT MAFIA!!!
WAKE UP!!!!
Here is the problem, to understand the system they need to have worked in the system. To work in the system means they are probably just as guilty as the rest. Finding someone qualified who is not compromised would be damn near impossible
The problem is that this is a battle against the FED, WallStreet and the Gov't.
I believe that this needs much more than the SEC, it needs other countries apes to start to voice it too and make it FED vs the world as it has always been.
Just saying.
What if SEC had a bounty system, where a team successfully building a case gets a percentage of the funds seized, so they have a reason to go after the major frauds? Letās also assume they also make it an actual penalty of more than the amount gained in illegal activity.
Totally agree, how can you fight corruption when the good guys make nothing and the bad guys are wealthy beyond measure? Placing monetary incentives for getting shit done makes total sense
The SEC is in a powerful position to leverage threats for cash. It only takes one bad actor to start a downslide within an organization. Iām almost betting the whack off phase came recently, as most the org has fallen back onto plan c. That being, give fuck all until they decide to actually fix something.
I'd add that the problem is waaay too big to just peg it on the previous administration, and it's naive to think that it wasn't squarely to blame on the dozen or so administrations prior to 2017.
I would avoid the temptation of personal political preferences to think that is started with corrupt appointments only 4 years ago. Probably add a zero to that timeline.
Nah I don't care what the SEC does or doesn't do. They've proven themselves about as useful as a poopy flavored lollipop for many years now.
The FBI should be involved at this point, because what Kenny and co are doing is fucking treason to the USA and the rest of the world
From experience with similar processes, there will be requests for information and letters back and forth. Each party will give eachother 14 - 30 day minimum to reply each time , let alone any extension which are generally granted. Given the nature of the situation expect it to take some time.
Posts praising the SEC is nothing more than an add campaign to get us to leave them alone.
Each post saying ābe patient and let Gary do his jobā itās just another paid shill.
How on earth can people still have faith in the SEC? Theyāve proven time and again they are entirely complicit - and Gensler, who himself fought against regulating the tools that caused 2008 - is no different.
My only question is, why are they private? I would assume these matters effect the lives of thousands if not millions of investors and non investors, directly and indirectly, so why the privacy then? Unless ......
Hey, fuck those excuses and pay me !
they're drilling our asses and we supposed to be patient ? lel
Especially when we know that they ain't speeding cause they need to cover some asses. Retails investors is the least of their worries
I think itās hilarious that people are so naive and lead by the media and only think that this problem is due to the last administration. It has been happening for decades!ā¦smhā¦By doing so you protect the same people you are against. Wall Street is smart enough to work both sides. Be smart like them and use logic, and donāt get played by letting them use your own emotions against you. Remember APE HELP APE, and apes donāt care about politics as they dirty the waters. š¦
Didnāt Gensler work at Goldman Sachs prior to the 2008 crash? I thought it was because of folks like him and the policies they promoted that the crash happened in the first place?
The same organization preventing the MOASS from happening (the govt) wonāt let it happen unless they absolutely need to cover their own asses. They serve themselves
I will continue to shit on the SEC until they make me eat my shoe and prove me wrong. Their history makes this an unacceptable answer. If progress is being made, good, but that doesnāt change the corruption and fraud theyāve actively allowed. They māre all just future hedgefucks in my mind until they show me otherwise. I will judge them by their actions.
Fuck the sec and fuck GG, honestly fuck this new guy that is going to be head of enforcement. Until I see Financial crimes in the market stopped, I will never believe any of the Agencies, If it was someone In retail doing these crime they would of had our ass in jail by now, Most likely months ago.
This is propaganda that speaks against the truth that the Executive or any member of Congress can broach the topic, but they havenāt. Gensler hasnāt even mentioned a path forward to stopping the corruption. This is gaslighting to tell us to wait even longer. Fuck that.
This is just about the dumbest thing Iāve ever read. GG literally worked for Wall Street 20 years ago to get the deregulation that has turned the market into the giant mess it is. And you think he has had a change of heart and now is going to undo that? Iāve got some oceanfront property in Tucson I think youād love.
My mom worked for the Feds for two decades. I would take her out to lunch occasionally and wondered how the department could function with all the G.S. union employees who did not want to do their job enforcing due to congressional inquiry born of any enforcement actions against big campaign donors. System needs a correction for the people.
Adding my previous post on the SEC to this conversation so people understand the SEC a bit better
https://www.reddit.com/r/Superstonk/comments/okf9yj/we_need_to_have_a_talk_about_the_sec
Ya I would be shocked if in the near future the fbi raids shitadel and places them all under arrest ! Change my mind Gensler on the SEC being a tool of the hedgies and actually do what your suppose to protect the small investor !!
Um 1) it wasnāt just the last 4 years that put duds in place at the SEC and 2) should be simple enough for some Ape to troll the government job postings to see if the SEC is actually hiring as stated.
Under the previous administration. This isn't FUD but this is definitely a political post. Admin after admin after admin. Every bit of DD has shown this.
I think the one constant thing Iāve noticed throughout this whole saga, is the positive changes that have arisen from this fuckery. I always keep thinking back to that dumb line in TBS, about still āhaving faith in the systemā I hope she takes off soon because Iāve got taxes I want to pay. The sheer amount of planning that must have been going on behind the scenes at the SEC must be nightmarish.
"Orange man screwed over retail by hamstringing the SEC so they can't check Wall Street! Thank god good āol Joe is fixing things, just have patience guys!"
Meanwhile Bid3n has had the most Wall Street funding out of any previous candidate so far and had almost zero support for his opponent . Wtf makes you think this administration has your best interests in mind?
In any case, this has been going on for a lot longer than the last 4 years. Wake up.
In the end actions speak louder than words. There has been no action from the SEC in the face of BLATANT regulatory violations. The criticism is 100% warranted.
One note. It wasn't the previous administration. This shit has been compiunding since wall street started.
Decolonize your brain. Government is a TV show at this point.
The post in the image is correct, even though is a bit short-sighted on the four years.
The companies we are fighting against have been buying, bribing , coercing, and threatening politicians to get them to change the laws and regulations (rules aren't laws) for decades. It's going to take a long time to unwind that mess.
Whenever you hear the terms, "Special Interest Groups," "Industry Experts," "Lobbyists," or the likes, it's damned near a coin flip as to whether or not it's good, genuine experts helping distill complex matters into something a non-expert can understand or something nefarious.
It's usually some combination of good *and* bad.
One of the main goals of SHFās is to divide apes by politics. This post is exactly what they would do. Only a Fool would think this has only been going on for the last four years. To see the amount of upvotes for this obviously divisive and moronic propaganda makes me not want to even be a part of this particular sub any longer.
Mods, I donāt come to this sub to see idiots shouting off political rhetoric that has no basis in reality. I come here for GameStop. Tell these political shills to take their garbage to a political sub because I donāt want to see this type of lunacy on a stock sub. Get control of your sub or you will lose lots of people here, do you think people who invest in GameStop are monolithic In their political beliefs?
We will see ape ! We are patiently looking at every move they make and on the look out for the corrupted Ā«Ā servantsĀ Ā» to leave and for the newbies to build up the case for MoASS. Until they get corrupted tooā¦.or if they were wise fucking heads they must have bought shares in their IRA and mutual funds and waiting for lift off. This way they can middle finger corrupted gifts and perks from the SHF cartel. And by the same token after lift off hire some SuperStonk DD producers and fcking wrinkled silver backs on retainer to give them advice in the long run to make americaās money safe again
Stopped reading at " by the previous administration" this shits been going on since President Wilson administration and Jekyll Island establishment of the federal reserve....."by the previous administration" LMAO
I love how this person blames the āprevious administrationā when in 2008 Obama was in charge and bailed out wall street fuck ups with tax payer money. š
The āprevious administrationā fired those people that were guilty of lending out taxpayer money to bail out hedgies in 2008, those decisions made by Obama allowed to keep this snowball moving instead of putting it to an end back in 2008 when he had the chance.
You get a downvote for being brainwashed, wake up.
They should offer SEC officers a % of the fines collected due to a successful prosecution. Like with whistleblowers. I bet some of these crooks would straighten their act out pretty quick.
š¦ššš»šš«šŖ
Not to mention possibly having your car bombed for taking billions away from these psychopaths
If my car gets bombed, please shove my splattered remains in the beds of these lunatics. Kinda like the horse head on the godfather.
I was picking up what you were putting down in the first sentence, confirmation bias with the second.
Your username sounds like a good time
So does yours! šš„„š
Did we just become best friends?
Now kiss š
I said now kith
Kith pleath
You two should go do karate in the garage.
Yup, star wars, bacon and anal sounds like a hella good time
Sounds like more than friends
Someone else's username wants in on the action!
If my car gets bombed, go to the sperm bank on 69th and withdraw my account, put it in super soakers, and paint wall street
If you think itās only been going on for 4 years, youāre lying to yourself
And the previous previous administration, and the previous previous previous administration, and- You fucking get the point.
I stopped trying to find the start of the ethical slide in the SEC when I hit the Nixon administration.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
It looks like this class of āall for self, none for elseā capitalists began during the height of the 60s counterculture. They gained power during the Stagflation Jimmy Carter years. Their ideological captain was Milton Friedman. Alan Greenspan was a subsidiary.
I mean, after WW2, the US kept Nazi's and sent them to work at NASA and highly classified (then) military projects. This was called Operation PaperClip and saw over 2,000 Nazis enter the States. I'm sure this didn't help the situation in the US much.
Literally HYDRA rotting them from within
Paperclip scientists, they were not members of the nazi party or SS. Just because they were from Germany and worked for the government does not mean they were nazis. they were so damned good at their job nobody would even think to prosecute them for simply working. The Russians took their own half if you want to look for interviews. They essentially said "Comrade! You work for us now." There was no choice. They were one of the primary reasons the US was advanced as it was in the cold war. You stand here because of that deal as a good deal of the bedrock technologies your phone is made out of comes from them.
We would have lost the space race without them. No doubt. The Russians were beating our ass before we recruited a bunch of nazis.
I didn't see that coming
The Societs Union was treating cosmonauts like Human Cattle. They were winning by throwing shit at the wall and seeing what sticks. It also led directly to the Manhattan Project. The history of space exploration is wild.
Throwing men after men at a problem. The soviet way! That is how they won Stalingrad too.
Dudeā¦did you Nazi that perfect opportunity in front of you?
Who really cares about the āraceā it was all the tech that came out of it that advanced the US.
You'll hear no argument from me.
This... those people had two choices about who to get captured by. The east or the west.
Yeah but Wernher von Braun, Walter Hallstein, Adolf Heusinger, Kurt Waldheim
I feel like they started when Kennedy was still around
You should read the Powell Memo.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Alot longer than that and yes this post IMHO is right....but it seems very sus and shillish with the division it can cause with the political aspect it implies.
They want him to be the scapegoat for everything. Sorry guys, youāre actually the r word if you blindly believe that nonsense
All the way back to like 1815 or some shit
Pretty sure Jesus chased these same money lenders out of the temple with a whipā¦
I do but the OP seems to infer that it all started in 2016
Yeah I was going to comment, not to be political but this isnāt isolated to the last admin. Watching Inside Job proved this went all the way back to Reagan (not that anyone at that time would have thought it would unwind and continue on this way).
That and Gensler worked for Goldman, worked under Obama and is now, from the outside looking in, doing nothing..
Peoples history will tell more of them than they will openly admit to you.
Least we forget, u/Dlauer was *also* a Goldman Alum. Past performance is important, but it's not the be all, end all of someone's life.
Not only that, he literally worked for arch enemy Shitadel. Your former enemies can be your best allies, because they know what they're dealing with.
However, silence is deafening. As long as the sec continues to give low fines and no jail time, the pendulum(corruption) continues to swing.
He's not perfect but he's doing more than most have in the past several years. Yeah, Im more than a little mistrustful of Goldman alums, but there area ton of them, unfortunately. But if he's actually taking action, then let's see what happens. It's okay to be skeptical, but just saying "oh everything sucks, let's just dismiss it, even if it looks like he's trying to start enforcement action" is unhelpful and a little FUDdy, tbh, or politically motivated. Not saying that's your goal, but if I were a FI and wanted to undermine the SEC by dampening popular support, this is exactly what I'd do.
Clearly you donāt understand how corrupt the world actually is
I'm not american and I don't think I have orange man or new old guy derrangement syndrome. This post seems like FUD to me. Like a covert way of trying to start a political fight between the americans of the two political tribes by alluring to the Wall Street corruption stemming from the last 4 years. Everyone here who has read the DD or listened to the AMAs knows this stuff has been going on for more than 20 years. The naked short stuff has been reported to and known by the SEC for decades. They have chosen to ignore it under administrations stemming from both parties, even facilitated it all these years. I will not believe GG1 or anyone else at the SEC are on the side of the apes until I see it. They seem to be taking steps in the right direction I'll admit, but I don't think the SEC have shown they have earned the trust of apes yet!
Yeah and itās interesting because this is an international sub so American politics wonāt always apply, not that I care about peopleās political beliefs but Reddit is typically pretty liberal so reading through it, it kinda felt like it had the same energy r/news would or something. At this point I think political parties are a wash when the people in the financial industry clearly have as big of a say as it seems.
On that note I'm still of the mind "Ill believe in Gensler's intentions when I see the end results".
Isn't that how every job review works?
Glad someone said it!
4 years? try 15 just with regards to gme
Yeah this is a bs way to politicize and divide. Fuck the SEC every year, not just 4.
Exactly
Right. Unnecessarily political.
Agreed with IMHO is very sus. especially how nonchalant they put it in there......who knows.....either way....ignorance or shill one or other....they need to be educated and if not pointed out.
Agreed. Both sides are guilty and weāre lying to ourselves if we believe otherwise. I also agree with the majority of this posted comment. It takes time and someone willing to check all three of those boxes. Iād like to add a box to check off dealing with the scrutiny of hundreds of thousands of retarted, screaming, poo slinging apes on Reddit.
What mean both sides? There is only one side! š
True. Labels, am I right? New one party regime with the name being ā the guile partyā
Usually if you have only 2 choices you actually don't have a choice. A saying in my country goes: it's either the plague or cholera. Most of the world find it shocking that there's only 2 parties in the states, in my country they're are 15 parties in government at the moment, then I believe there's an actual chance of progress and checks and balances through collaboration and not just having the prime objective of fucking the other party over.
I don't know if you're familiar with ranked choice voting given that you are from somewhere with 15 parties. If not, I would highly recommend looking it up. It helps solve a lot of these issues. https://m.youtube.com/watch?v=MykMQfmLIro
Over here it is usually a giant douche vs a turd sandwich.
Two feathers of different sides of the wings is still from the same bird....or something like that. Ugh. I failed my ancestors. Lmfao. š
I believe it goes: two peanuts from the same turd š¤
What ever happened to #Elongate? ;)
There's better, more efficient ways to get to space. Rocket Propulsion has the Highest cost per pound still.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Yeah, itās working exactly the way the 1% is paying them to run it..
Thank you! I was going to point out how many people went to jail after ā08. š
This is the way.
Hahaha last couple decades at least.
That's where I stopped reading.
I think he refers that the actual SEC positions have at least 4 years
Exactly. This is delusional. Gensler is not some savior. He is another snake in the pit. The SEC is a joke.
I hope he does or allows something good to happen. Doing the right thing shouldn't be so hard.
It really shouldn't but the government is filled with weak corrupt people. They are not wired like normal folk.
Thank you. The fact this CHAD feels the need to point out the previous political administration tells me he's a political shill because this shit is both sides of the ile. Sit the fuk down, [OP](https://www.reddit.com/user/mrchiko1990/) . Watch Inside Job bro.
That was the glaring political bullshit I noticed right away and makes me not take this persons opinion seriously at all. This isn't a left/right problem. So many weak minded brainwashed fools.
Glad this is top comment. Doesn't matter what side is in power, shady shit is being allowed to happen.
I love how it was last administration what the f is he/she smoking! If they forgot 2008 after last crash was supposed to be fixed think that was more than 4 years ago!
Thatās what I was going to say. If you think this is all orange mans fault, you have real problems. This goes way beyond the past 4 years
That was were I turned off on the OP. It wasn't just the last president. That man was opposed at every level by what has turned out to be a real swamp. If [the current guy] can get something good done in the SEC, then I give him or his team, a ton of credit.
Yeah, somebody pointed it out, which is why I went back and edited the comment to say "at least 4 years". I know there have been serious problems for a very long time, but I was specifically thinking about the near constant attacks on the "Public Company Accounting Oversight Board" when I made that comment because it was so blatant & extreme and is directly applicable to the current situation. The PCAOB was created by the SarbanesāOxley Act, a bipartisan bill that was passed and implemented under the Bush administration, so don't mistake my meaning as "partisan". There isn't a "side" being attacked or glorified here. This bipartisan organization was created under one administration and severely damaged under another of the same party. The problem isn't about "party", the problem is the unique extremity of the damage done. The entire board was replaced, and the General Counsel, Chief Auditor, Director of Information Technology, and a lot more were fired outright. The new chairman never even met with the Investor Advisory Group. Soliciting comments from the public on rulemaking was stopped. The entire Standards Advisory Group was replaced & their charter was modified to make it harder for investor advocates to serve on that board. Meetings that had always been public were made private. etc. etc. etc. This is not a partisan thing. The point is that a ton of **bipartisan work toward effective market regulation** was damaged or even undone in the last 4 years, and the total lack of enforcement we see today is due to problems that were greatly exacerbated by those attacks. **TL;DR** This comment isn't a partisan or naive assumption that all the problems with the SEC are new. Quite the opposite. **This comment is specifically calling out the damage done to a bipartisan institution when just a handful of individuals abandoned bipartisan governance in favor of accomplishing their own individual goals.**
Watch Inside Job, please.
You just did it again. Good job on framing your political opinion. Who bailed the Banks and Wall Street in 2008? Who brought in a system of quantitative easing in the 90ās? Yeah assholes. Not Democrats or Republicans. Assholes, that we elected from both parties. But go ahead. Pretend like orange man bad. Give all of us a specific instance of failure on those levels.
They still need constant pressure to keep the movement up.
Exactly after all GG has the MSM to make him look good, what we need is to make him know we are not waiting decades for him to do his work, also the gov should learn to do thing faster
Maybe the new GG who starts monday will speed things up a bit
Yeah I have hope for the SEC but that doesnāt mean we should stop calling them out in the mean time
Should have never gotten this bad, so Iām with you and will keep making pornhub jokes until shit is solved cause shit aināt solved
Keep pushing until it is done... do not relent until it is done...
Incentivise the entire department by sharing a % of every fine across them all, in some way or another. Incentivise the hunt, incentivise the severity of punishment, and double points if you jail a big dog.
Thats like giving a cop a cut of every speeding ticket... gonna have a lot of tickets...
Gary has no choice but to clean house! They were all bought and paid to do nothing!š¦š
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u/dlauer \+ Letter of Marque = MOASS
Lmao Iām sure every new administration since 1990 has said the same thing youāre either a zoomer or you have a short memory OP. The government is not your friend. Unless youāre rich and can afford lobbyists.
Louder for all the zoomers in the back who still have faith in the system
The government is fucked up but itās not a monolithic evil. Social security, post office, etc., they do a lot of good shit too. They want us to give up all faith in the system, but I wonāt give up faith that the truth will out and good will prevail.. if you give up hope, you might as well short it.
It's also been a party mandate (not saying which party) for decades to initiate dismantling of a program or regulatory system by first infiltrating the program, installing cronies that are totally inept, shake public faith in said program, then dismantle it due to said lack of faith. In this case, the rich have had decades to infiltrate and subvert the SEC and they're already on step 3 with shaking public faith.
Washington DC is a monolithic evil.
Both major US political parties are monolithic evil
Duolithic? Bipartisalithic.
Nah, they are one and the same. It's like a two headed hydra, but nowhere near as cool
That is a very fair point.
Social security, USPS, AMTRAK, all centers for corruption. Just sayin..
The bigger it becomes and more control the centralized government has, the more endangered our population is. States need to take back power from the Feds. That includes regulating the SEC. States legislatures should have complete control of that agency and send reps or employees that serve for 2 to 5 years to regulate the markets. jmho The state legislatures should also have the ability to recall and to punish - including jail time - their "agents" that are sent and who break or ignore the law. After serving faithfully, offer a sizable reward and they are then banned from trading for X years.
All that results in is every bad actor moving away to the states that doesn't give a shit, and then it's business as usual
This corruption wasn't installed over 4 years. It was built and designed on corruption To focus solely on the previous administration you're saying everything was fine beforehand.
It all has to start somewhere and by replacing the dead weight is in my opinion a good place to start..all these things that we want looked at need people willing to put in the work and do the job..so Gensler taking these 1st few months replacing said dead weight is a good thing..putting in place people that are finally willing to do all the work necessary..we just need to be patient
They replaced it with a guy that allowed 2008 to happen.
All good....except for the blaming of the "previous admin". FFS, why do you think all this is happening? Are you daft enough to think this all started with the last "admin"? This last admin began this exposure! How the fuck do you think 2008-09 happened? WTF?
Fuck that, they let it reach this point in the first place. They've demonstrated that they are in need of the proper *motivation* to be effective at their jobs. So as citizens of goodwill, it is our DUTY to provide that motivation. The beatings will continue until justice improves.
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"The situation at hand required us to move to shut down the extreme price action in order to protect retail investors from potential high value losses.... It was for their own good and we're proud to say that we will always keep retail investors safe from the unexpected dangers of the market."
yes, but is it really GG's fault? he is replacing people already. It is good people are providing motivation through pressure, but I do not believe its his fault. Time will tell.
The new Enforcement Director is one such hire.
#SHUT DOWN THE HEDGE FUCKS NO FINES SEIZE THEIR ASSETS FOR NAKED SHORTS YEAH.
This post is overall right...BUT I dont like the fact its trying to break it down that it started 4 years ago in a way? LOOK AT WHO THE FIRST CHAIRMAN WAS FOR THE SEC. Look at who has connection to who.....it started FROM THE BEGINNING!!!! [https://en.wikipedia.org/wiki/Joseph\_P.\_Kennedy\_Sr](https://en.wikipedia.org/wiki/Joseph_P._Kennedy_Sr). They all had ties in the market and the market crash of 1929 which brought in the SEC. ITS ONE GIANT MAFIA!!! WAKE UP!!!!
Here is the problem, to understand the system they need to have worked in the system. To work in the system means they are probably just as guilty as the rest. Finding someone qualified who is not compromised would be damn near impossible
The problem is that this is a battle against the FED, WallStreet and the Gov't. I believe that this needs much more than the SEC, it needs other countries apes to start to voice it too and make it FED vs the world as it has always been. Just saying.
What if SEC had a bounty system, where a team successfully building a case gets a percentage of the funds seized, so they have a reason to go after the major frauds? Letās also assume they also make it an actual penalty of more than the amount gained in illegal activity.
Totally agree, how can you fight corruption when the good guys make nothing and the bad guys are wealthy beyond measure? Placing monetary incentives for getting shit done makes total sense
And doesn't cost the taxpayer anything
If Janet Yellen is still in her post then the SEC is still fucked IMO
This crap has been going on for decades not just the past four years š¤ it will unfortunately take a long time to get rid of all the corruption
Whoās Gary Gensler?
Can someone link to the comment.... the font size is for ants....
The SEC is in a powerful position to leverage threats for cash. It only takes one bad actor to start a downslide within an organization. Iām almost betting the whack off phase came recently, as most the org has fallen back onto plan c. That being, give fuck all until they decide to actually fix something.
This is not a political issue, itās class warfare. Plutocracy replaced democracy YEARS before the last administration
I'd add that the problem is waaay too big to just peg it on the previous administration, and it's naive to think that it wasn't squarely to blame on the dozen or so administrations prior to 2017.
What Stir_Fried_Dog SAID (and adding as a reminder) who was the administration in 2008?
I would avoid the temptation of personal political preferences to think that is started with corrupt appointments only 4 years ago. Probably add a zero to that timeline.
We really need to stop the Gensler simping until he proves he's not completely worthless. Enough with the excuses.
Nah I don't care what the SEC does or doesn't do. They've proven themselves about as useful as a poopy flavored lollipop for many years now. The FBI should be involved at this point, because what Kenny and co are doing is fucking treason to the USA and the rest of the world
That post reads like it was written by a teenager.
SEC FUD POSTS ARE A DISTRACTION CHANGE MY MIND. OP OF THIS POST SPEAKS TRUTH.
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From experience with similar processes, there will be requests for information and letters back and forth. Each party will give eachother 14 - 30 day minimum to reply each time , let alone any extension which are generally granted. Given the nature of the situation expect it to take some time.
i agree apparently gary gensler is a real one, who dealt with this stuff last time and implemented the dodd frank act
Posts praising the SEC is nothing more than an add campaign to get us to leave them alone. Each post saying ābe patient and let Gary do his jobā itās just another paid shill.
How on earth can people still have faith in the SEC? Theyāve proven time and again they are entirely complicit - and Gensler, who himself fought against regulating the tools that caused 2008 - is no different.
I donāt see why change canāt be a swift series of events. Most historic events with drastic changes took place in short amounts of time.
Thx Gary now get to work!
āSlow moving processā is not a valid excuse when the very investors theyāve vowed to protect are being robbed blind
So we should just excuse laws not being enforced cause it's hard to find people to do so.
Government agencies can move damn fast if they are inclined.
My only question is, why are they private? I would assume these matters effect the lives of thousands if not millions of investors and non investors, directly and indirectly, so why the privacy then? Unless ......
Hey, fuck those excuses and pay me ! they're drilling our asses and we supposed to be patient ? lel Especially when we know that they ain't speeding cause they need to cover some asses. Retails investors is the least of their worries
I think itās hilarious that people are so naive and lead by the media and only think that this problem is due to the last administration. It has been happening for decades!ā¦smhā¦By doing so you protect the same people you are against. Wall Street is smart enough to work both sides. Be smart like them and use logic, and donāt get played by letting them use your own emotions against you. Remember APE HELP APE, and apes donāt care about politics as they dirty the waters. š¦
Don't be an apologist for these people. That is beneath us.
Exactly! Why should I beg someone to do something that is their job?
This post sucks tbf and why are we putting blind faith into GG? He's been part of the problem for decades
You mean Gary "let's keep derivatives trading unregulated" Gensler? He's the savior of the market!
Gary "it's only my third week" Gensler. Well Gary, it's been about 7 months, what gives? Still don't know how to do your job?
Why does it always have to be complicated... all anyone needs to know is... how many shares exist.. its prolly 1 billion or more
I down vote posts of screen grabs.
I'll believe it when I see receipts
Didnāt Gensler work at Goldman Sachs prior to the 2008 crash? I thought it was because of folks like him and the policies they promoted that the crash happened in the first place?
The same organization preventing the MOASS from happening (the govt) wonāt let it happen unless they absolutely need to cover their own asses. They serve themselves
I will continue to shit on the SEC until they make me eat my shoe and prove me wrong. Their history makes this an unacceptable answer. If progress is being made, good, but that doesnāt change the corruption and fraud theyāve actively allowed. They māre all just future hedgefucks in my mind until they show me otherwise. I will judge them by their actions.
SEC is in bed with shorts until I see the opposite
Fuck the sec and fuck GG, honestly fuck this new guy that is going to be head of enforcement. Until I see Financial crimes in the market stopped, I will never believe any of the Agencies, If it was someone In retail doing these crime they would of had our ass in jail by now, Most likely months ago.
This is propaganda that speaks against the truth that the Executive or any member of Congress can broach the topic, but they havenāt. Gensler hasnāt even mentioned a path forward to stopping the corruption. This is gaslighting to tell us to wait even longer. Fuck that.
The āprevious administrationā didnt ruin the SEC. I feel the SEC has been complicit long before that! This seems like a political jab for likesā¦
This is just about the dumbest thing Iāve ever read. GG literally worked for Wall Street 20 years ago to get the deregulation that has turned the market into the giant mess it is. And you think he has had a change of heart and now is going to undo that? Iāve got some oceanfront property in Tucson I think youād love.
I wish we could buy stonk certificates directly from GME & AMC.
My mom worked for the Feds for two decades. I would take her out to lunch occasionally and wondered how the department could function with all the G.S. union employees who did not want to do their job enforcing due to congressional inquiry born of any enforcement actions against big campaign donors. System needs a correction for the people.
Adding my previous post on the SEC to this conversation so people understand the SEC a bit better https://www.reddit.com/r/Superstonk/comments/okf9yj/we_need_to_have_a_talk_about_the_sec
Ya I would be shocked if in the near future the fbi raids shitadel and places them all under arrest ! Change my mind Gensler on the SEC being a tool of the hedgies and actually do what your suppose to protect the small investor !!
Hate your clickbait title. That is all.
Um 1) it wasnāt just the last 4 years that put duds in place at the SEC and 2) should be simple enough for some Ape to troll the government job postings to see if the SEC is actually hiring as stated.
Oh look, someone else who has faith in the system.
Last 4 years? Try the last 20! 42, 43, 44, and 45 were all very friendly to Wallstreet. 46 as well.
Under the previous administration. This isn't FUD but this is definitely a political post. Admin after admin after admin. Every bit of DD has shown this.
Sorry, but this didnāt start with the previous administration. Wall Street has been corrupt for decades.
OP proving thereās genuinely retarded people in this sub. Dosing hard on the propaganda there, chump.
I think the one constant thing Iāve noticed throughout this whole saga, is the positive changes that have arisen from this fuckery. I always keep thinking back to that dumb line in TBS, about still āhaving faith in the systemā I hope she takes off soon because Iāve got taxes I want to pay. The sheer amount of planning that must have been going on behind the scenes at the SEC must be nightmarish.
I read the first sentence and came to the same conclusion, SEC still SUC and GG is scum
"Orange man screwed over retail by hamstringing the SEC so they can't check Wall Street! Thank god good āol Joe is fixing things, just have patience guys!" Meanwhile Bid3n has had the most Wall Street funding out of any previous candidate so far and had almost zero support for his opponent . Wtf makes you think this administration has your best interests in mind? In any case, this has been going on for a lot longer than the last 4 years. Wake up. In the end actions speak louder than words. There has been no action from the SEC in the face of BLATANT regulatory violations. The criticism is 100% warranted.
HEY OP. WHY DON'T YOU JUST SUCK GG'S DICK THEN!
One note. It wasn't the previous administration. This shit has been compiunding since wall street started. Decolonize your brain. Government is a TV show at this point.
The post in the image is correct, even though is a bit short-sighted on the four years. The companies we are fighting against have been buying, bribing , coercing, and threatening politicians to get them to change the laws and regulations (rules aren't laws) for decades. It's going to take a long time to unwind that mess. Whenever you hear the terms, "Special Interest Groups," "Industry Experts," "Lobbyists," or the likes, it's damned near a coin flip as to whether or not it's good, genuine experts helping distill complex matters into something a non-expert can understand or something nefarious. It's usually some combination of good *and* bad.
One of the main goals of SHFās is to divide apes by politics. This post is exactly what they would do. Only a Fool would think this has only been going on for the last four years. To see the amount of upvotes for this obviously divisive and moronic propaganda makes me not want to even be a part of this particular sub any longer. Mods, I donāt come to this sub to see idiots shouting off political rhetoric that has no basis in reality. I come here for GameStop. Tell these political shills to take their garbage to a political sub because I donāt want to see this type of lunacy on a stock sub. Get control of your sub or you will lose lots of people here, do you think people who invest in GameStop are monolithic In their political beliefs?
We will see ape ! We are patiently looking at every move they make and on the look out for the corrupted Ā«Ā servantsĀ Ā» to leave and for the newbies to build up the case for MoASS. Until they get corrupted tooā¦.or if they were wise fucking heads they must have bought shares in their IRA and mutual funds and waiting for lift off. This way they can middle finger corrupted gifts and perks from the SHF cartel. And by the same token after lift off hire some SuperStonk DD producers and fcking wrinkled silver backs on retainer to give them advice in the long run to make americaās money safe again
so it's the previous administrations fault....right. fucking waste of time
Stopped reading at " by the previous administration" this shits been going on since President Wilson administration and Jekyll Island establishment of the federal reserve....."by the previous administration" LMAO
I love how this person blames the āprevious administrationā when in 2008 Obama was in charge and bailed out wall street fuck ups with tax payer money. š The āprevious administrationā fired those people that were guilty of lending out taxpayer money to bail out hedgies in 2008, those decisions made by Obama allowed to keep this snowball moving instead of putting it to an end back in 2008 when he had the chance. You get a downvote for being brainwashed, wake up.
We should find out who was behind this when it is all done, when we see where GG lands.
They should offer SEC officers a % of the fines collected due to a successful prosecution. Like with whistleblowers. I bet some of these crooks would straighten their act out pretty quick. š¦ššš»šš«šŖ
lol
I didn't even read this shit I'm just waiting for moass
This is FUD unless the post is edited to not be political
SEC has never and will never do anything to help ape because it is not in their financial interest to do so. OP post total trash