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Posts Tagged ‘Fiancial Regulation’
April 23rd, 2010 at 9:45 am
SEC Porn Surfers: This Is Whom Obama Wants Running More of Our Economy
Posted by Print

An addendum to our Liberty Update commentary piece this week, which highlights the absurdity of Obama advocating greater power for government and the Securities and Exchange Commission (SEC) over the American economy.

We noted in our commentary that the latest Pew Research poll shows an American electorate increasingly distrustful of government since Obama entered the White House.  We also noted that the SEC’s recent record of utter incompetence in stopping Ponzi schemes like that of Bernie Madoff, as well as its inability to foresee or prevent the latest economic bubble, suggest that the last thing the struggling American economy needs is even more centralized government control.

We couldn’t have timed our commentary more perfectly, as America wakes up this morning to the news that SEC personnel were wasting thousands upon thousands of hours surfing for pornography rather than actually doing the job that our tax dollars pay them to do.  As one example, an SEC accountant attempted to access a blocked porn site 16,000 times, and many of the SEC staffs’ actions occurred even after the financial bubble burst.

Yet Obama, the man with such paltry private-sector experience or knowledge, sanctimoniously lectures us that he and the SEC should be granted even more authority?