RE: SEC v ARISE: The Trial of The Century?
This whole situation is quite a complex mess yet on the other hand pretty obvious and simple.
Regardless of the MASS amount of data that will be looked over in this case (of which I for one am not going to invest the time in) history of which is far more trustable than charges or which hunts is the SEC has proven time and time again to use and abuse its power simply to try and gain more power.
This has happened with MANY of the regulatory institutions in this country for decades. I think any intelligent person knows that regardless of if there is any truth to the charges or not (which there must be at least some) it is a witch hunt of which is part of a much bigger "plan".
I am all for free markets. Yes there will always be some "evil" people trying to scam and take advantage of others. Yet to have institutions make examples of situations even if right in order to control entire masses is FAR worse.
If someone does do something wrong then yes, let them be held accountable. However I am so tired of one person or company being "evil" and then using that as justification to regulate everyone else and make innovation and progress expensive and time consuming for everyone else.
We shall see, though generally speaking history repeats it self.
Can you give some examples of when the SEC has abused its power?
Afaik, the general consensus is that the SEC has historically been way too toothless in its power to fight corruption in the markets. For example, in taking on the big hedge-funds+banks etc, the picture I've generally read is that it's been pitting rather average-IQ government wage employees against far smarter + higher-paid evil geniuses (if you're high IQ in the finance/legal world - where do you choose to work - for SEC or for private sector with 10x+ wages), and generally only ever succeeding in obtaining token wrist-slaps, penalizing the companies for a fraction of their corrupt gains and almost never succeeding in any jail time for the people at fault.