A New Error in Regulation

by: Greg Newton

Queen Mary Schapiro (right) was sworn in Monday as chairman of the US Securities and Exchange Commission by commissioner Elisse B. Walter (left). In an unrelated development, operators of the federal employees’ health plan confirmed that it would in the future cover counseling and medications prescribed for the treatment of Stockholm Syndrome.

“Having seen what happened during Henry Paulson’s reign at Treasury, most especially the billions in TARP funds shoveled in the general direction of Goldman Sachs (NYSE:GS) and its counterparties, and the ever-expanding bailout of AIG (to which Goldman had no...cough...material exposure) we have come to understand that, untreated, this disease can have severely negative ramifications for the commonweal.

“While we do not comment on individual cases, we note that the American Psychiatric Association has identified ‘revolving door disorder’ as a complicating factor in this very serious illness.”

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