So we have an earthquake on the eastern seaboard. Totally not used to this. At least not like in California. So the Securities Exchange Commission [SEC] freaks and shuts down Edgar. Another example of how SEC fails to serve. Strong democracies need strong capital markets. Excellent capital markets thrive on timely and accurate information.
Edgar was not up to the challenge. Could be good cover for the document destruction scandals.
Watch for another budget fight as SEC asks for money to become earthquake proof. Waiting for someone to sue SEC for inadequate something or other.
Disclosure: George Gutowski writes from a caveat emptor perspective. I am not earthquake-proof but I do value a reliable regulatory environment.
- In Wake of Quake, S.E.C. Suspends Edgar System (dealbook.nytimes.com)
- Sec Is Covering Up Wall Street Crimes…Matt Taibbi (newsworldwide.wordpress.com)
- Launching A Defense Against The SEC – Via Blog (blogs.wsj.com)
- Revolving Door, Document Destruction Hamper SEC Enforcement (pogoblog.typepad.com)
- Who Authorized Document Destruction at the SEC? (pogoblog.typepad.com)
- Securities and Exchange Commission Accused of Shredding Investigation Documents for Nearly Twenty Years (jonathanturley.org)
- Republican senator alleges SEC destroyed documents (marketwatch.com)
- The SEC Document Destruction Kerfuffle (professorbainbridge.com)
- SEC Appears To Be Whitewashing Wall Street Indiscretions (themoderatevoice.com)
- They killed Kenny er Goldman er Blankfein $GS #corpgov #sec @gselevator (financialskeptic.wordpress.com)
- Virginia Earthquake: First tweet in D.C. 30 secs before it could be felt in New York City (nextlevelofnews.com)