The SEC is essentially a criminal organization. It has comprehensively betrayed its mandate to become a textbook example of Regulatory Capture, and is now a wholly-owned subsidiary of Wall Street, City of London, the Rothschild Group, et al. Though FDR sought to create it for the purpose of restoring confidence in the US capital markets and protecting investors, it was never really about that. The Wall Street criminals FDR hired for that purpose simply built a monopoly for themselves so that they could have exclusive control of global money flows
I submit as evidence of the SEC's criminality its 'asleep at the switch' performance in failing to police the Wall Street investment banks in their issuance of Mortgage-Backed Securities leading up to the 2008 housing market meltdown.
They are now the enforcement arm of international capital's monopoly on global money flows. No one can issue a security -- under threat of financial destruction and/or imprisonment -- unless they pay Wall Street their extortion. 'Free enterprise' isn't free at all, but rather under the firm control of the Malefactors of Great Wealth. They are your owners.
***YOU HAVE OWNERS. THEY OWN YOU!***
The good news however, is that the cryptocurrency phenomenon is breaking Wall Street's monopoly on global money flows, by creating an ***AUTOMATED*** digital financial instrument issuance and transaction ledger mechanism which entirely bypasses Wall Street, and at costs in the hundreds rather than millions of dollars. The SEC/Wall Street is fighting to suppress cryptos, but the technology and economics make it inevitable that Wall Street will lose that battle. Finance capitalism is on the brink of an entrepreneurial explosion fueled by the crypto-driven liberation of capital creation.
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