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Breaking News: SEC's Cox Has Pulled Out; Mary "Kappa Beta Phi" Schapiro Stepping In

Tyler Durden's picture




 

Chris Cox has said enough and resigned today at noon. After single-handedly destroying the primary U.S. regulator Cox took the back door. His replacement is Kappa Beta Phi sister Mary Schapiro who ran FINRA - the second most ineffectual regulator in the U.S.

Well, Mary, after Cox's stellar performance, it should not be tough to improve on expectations that are really low, kinda like Obama and all.

As your first order of business we recommend you enforce that most memorable of decisions, the shorting ban. It is sure to stabilize the markets and get us to UBS's (the manic half) 2009 S&P target.

 

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