If Goldman Sachs is in the Oversight Committee and former employees of Wall Street are in the SEC, doesn’t this equal self-regulation of the free market? It seems to me that it is by definition, self-regulation.
So if we did what those in the GOP want and eliminated the SEC would we be better, worse or just the same? I think we would be just the same, considering like I stated earlier, Wall Street is already regulating itself through the SEC.
How do we change this situation? We need honest leadership without ties to Wall Street to make sure the SEC is cleared of all the moles and rats. Considering that to be a huge uphill battle, President Obama started the CFPB.
The Consumer Financial Protection Bureau was target number one on Wall Street’s radar. We have an agency that isn’t infiltrated by the Wall Street elitists and Elizabeth Warren would not have allowed them in. That is why they tried their hardest to kill it and kill it’s funding through the GOP.
Free market self-regulation is a myth, and it’s time to stop believing in conservative fairy tales.
