- Come into office promising to protect investors while, behind the scenes, making it clear that this “criminalizing business” stuff (Bill Donaldson, 2002-2005) has to stop. It’s destroying investor confidence and slowing the rebirth of the stock market Ponzi scheme.
- Press a telescope firmly to a blind eye. Pontificating about the threat posed by “over-regulation,” ensure the agency stagnates by, among other things, leaving high-level jobs unfilled for months at a time.
- Without an iota of evidence, blame the failure and/or bankruptcy and/or dramatic decline of widespread criminal conspiracies masquerading as “investment banks” on short-selling hedge funds, Evil! Speculators! and other dark knights.
- Proclaim “I’m shocked, shocked to find Ponzi schemes going on here. Nobody’s been answering the phone.” (Thinks to self: See, government is the problem! Picks up dog-eared copy of ‘Atlas Shrugged’ and curls up in comfy chair. Kicks can down the road.)
by Alex Berenson and Diana B. Henriques
The New York Times Dec. 17 2008
by Jesse Westbrook
Bloomberg Dec. 16 2008
By Aaron Lucchetti, Kara Scannell and Amir Efrati
The Wall Street Journal Dec. 17 2008
