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The Porn Addicts Formerly Known As The SEC Take Their Vendetta With Egan-Jones To The Next Level

Tyler Durden's picture





 

This is so pathetic, it is beyond words:

  • US SEC EXPECETED TO VOTE ON POSSIBLE CHARGES AGAINST RATING FIRM EGAN JONES ON THURSDAY - RTRS
  • POSSIBLE CHARGES STEM FROM ALLEGED WILFUL MISTATEMENTS ON EGAN JONES' REGULATORY APPLICATION WITH SEC - RTRS

If nothing else, it explains the recent WSJ hit piece against Egan, just so it can make the public record in the SEC documentation. In other news, this will surely teach any other rating agency to downgrade the US not once (ahead of everyone else, well the S&P), but twice (and JP Morgan too).

In the meantime, the SEC still has NO IDEA what the definition of liquidity is, and continues to refuse to take ANY action against High Frequency Trading, to press criminal charges against ANY banker, or for that matter, to do anything that may jeopardize its staffers future careers as 7th assistant general council at assorted bailed out Wall Street firms.

Now we wait to hear news that Fitch and Moody's will receive a cash bonus from the SEC for not downgrading the US properly filing their
regulatory applications.

And now back to midget porn.

One senior attorney at SEC headquarters in Washington spent up to eight hours a day accessing Internet porn, according to the report, which has yet to be released. When he filled all the space on his government computer with pornographic images, he downloaded more to CDs and DVDs that accumulated in boxes in his offices.

 

An SEC accountant attempted to access porn websites 1,800 times in a two-week period and had 600 pornographic images on her computer hard drive.

 

Another SEC accountant used his SEC-issued computer to upload his own sexually explicit videos onto porn websites he joined.

 

And another SEC accountant attempted to access porn sites 16,000 times in a single month.

 

In one case, the report noted, an employee tried hundreds of times to access pornographic sites and was denied access. When he used a flash drive, he successfully bypassed the filter to visit a "significant number" of porn sites.

 

The employee also said he deliberately disabled a filter in Google to access inappropriate sites. After management informed him that he would lose his job, the employee resigned.

 

A similar SEC report for October 2008 to March 2009 said that a regional supervisor in Los Angeles accessed and attempted to access pornographic and sexually explicit Web sites up to twice a day from his SEC computer during work hours.

 

Porn Problem Began as Economy Collapsed

 

The report concluded that most of the cases began in 2008, just as the financial system began to collapse, and the problem hasn't stopped.

 

The most recent case cited in the report occurred four weeks ago.

 

"Trust me, these guys are addicts," said Mike Leahy, author of the book "Porn Nation."

 

"This isn't going to end until you know someone really puts a stop to it."

There is much more here...

 


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Thu, 04/19/2012 - 13:07 | Link to Comment bank guy in Brussels
bank guy in Brussels's picture

Wow, absolute American corruption

Thu, 04/19/2012 - 13:10 | Link to Comment CClarity
CClarity's picture

Yep!  Punish the truthtellers and reward incompetence (at best) and falsifying propaganda promulgators.  Disgusting!

Thu, 04/19/2012 - 13:17 | Link to Comment economics9698
economics9698's picture

When you pay $150,000 a year with benefits to Ivy League kids and have them move papers from one side of the office to the other what the fuck do you expect?

Thu, 04/19/2012 - 13:28 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

FASCISM

Thu, 04/19/2012 - 14:18 | Link to Comment Death and Gravity
Death and Gravity's picture

Fuck you, SEC, you monkey-fucking motherfuckers, every single one of you. Fuck you to hell.

Thu, 04/19/2012 - 15:15 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

 

 

From last year's WSJ...

Argentina Fines More Economists Over Inflation Estimates

...Government officials deny the fines amount to censorship, saying they want Argentines to have access to "good data."

The Economy Ministry spokesman couldn't be reached for comment.

The fines have silenced some economists and led others to refrain from talking openly to the media. Citing government pressure, consulting firm Economia y Regiones said last month it will no longer make public its inflation estimates...

http://online.wsj.com/article/SB10001424052748703518704576259281697697752.html

 

And from tomorrow's WSJ...

America Charges More Economists Over Sovereign Ratings

...Government officials deny the charges amount to censorship, saying they want Americans to have access to "good data."

The Economy Ministry spokesman couldn't be reached for comment.

The charges have silenced some economists and led others to refrain from talking openly to the media. Citing government pressure, ratings firm Egan-Jones said it will no longer make public its sovereign debt ratings...

 

Thu, 04/19/2012 - 19:04 | Link to Comment nmewn
nmewn's picture

I'm still trying to digest the headline...the SEC votes on whether to charge? They either have evidence of a crime or they don't...the March of the Insane Keynesians continues.

Thu, 04/19/2012 - 19:29 | Link to Comment Buck Johnson
Buck Johnson's picture

And if this and other stories don't tell you anything, this should.  There is no way out for the US, we are going to have a economic implosion the likes of which will make the Great Depression look like a friday afternoon correction.

Thu, 04/19/2012 - 13:32 | Link to Comment LowProfile
LowProfile's picture

This sounds an awful lot like the function and perks the Supreme Soviet enjoyed in the USSR...

...Immediately prior to the collapse...

Thu, 04/19/2012 - 13:51 | Link to Comment slewie the pi rat
slewie the pi rat's picture

sexual glasnost BiCheZ

Thu, 04/19/2012 - 14:06 | Link to Comment HoofHearted
HoofHearted's picture

If you can't see this country heading toward a Brave New World, then you aren't paying attention.

And hey, don't fuck with Sean Egan. You mess with him or Kyle Bass and it's like trying to intimidate Ron Paul. Some of us are NOT going to put up with this shit.

Anyone at Treasury or the Fed ever think that maybe they ought to do something to ensure that Egan-Jones isn't right???

Thu, 04/19/2012 - 13:34 | Link to Comment YC2
YC2's picture

The Spanish Inquisition?

Thu, 04/19/2012 - 13:50 | Link to Comment RafterManFMJ
RafterManFMJ's picture

Nobody suspected this would happen.

Thu, 04/19/2012 - 19:28 | Link to Comment Buck Johnson
Buck Johnson's picture

It's much more than that, most of them are just waiting it out for them to get hired by a major firm so that they can show them how to keep away from audits and flags popping up if any.  Do you truly believe that these Ivy league kids go into the federal service when they see their friends who luck out and get the 1.5 million dollar job and more.  They couldn't get the dream job at the beginning and so is waiting it out and hopeing to be noticed by a big firm.  And some are doing the 20 years and out and then go into the private sector to the same companies they investigated. 

Thu, 04/19/2012 - 13:23 | Link to Comment Smartie37
Smartie37's picture

.

The desperation is now truly palpable and odiferous..............

Doesn't the next step after that typically involve resorting to violence ???

Watch your back, Egan !!!

Thu, 04/19/2012 - 13:46 | Link to Comment Comay Mierda
Comay Mierda's picture

before the violence is the collapse

Thu, 04/19/2012 - 15:02 | Link to Comment NotApplicable
NotApplicable's picture

This is violence.

Thu, 04/19/2012 - 13:45 | Link to Comment Peter Pan
Peter Pan's picture

People forget that when Bernanke was giving assessments of the economy, housing and future developments he was also acting as a ratings agency. Now that his prognostications about housing and the economy have been proven badly wrong, will he also be prosecuted?

Thu, 04/19/2012 - 15:04 | Link to Comment NotApplicable
Thu, 04/19/2012 - 13:10 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

American or not, this is what happens when you do your work honestly.

Thu, 04/19/2012 - 13:13 | Link to Comment a growing concern
a growing concern's picture

Yep.  Dishonesty and fucking over other people is the new way to get ahead.

Thu, 04/19/2012 - 13:17 | Link to Comment StormShadow
StormShadow's picture

Unfortunately it isn't new. Been going on since we crawled outta the sea

Thu, 04/19/2012 - 13:20 | Link to Comment economics9698
economics9698's picture

Exhibit A, Jesus Christ

 

Thu, 04/19/2012 - 13:48 | Link to Comment Dr. Richard Head
Dr. Richard Head's picture

As they say, "No good deed goes unpunished."

Thu, 04/19/2012 - 13:47 | Link to Comment Dr. Richard Head
Dr. Richard Head's picture

As they say, "No good deed goes unpunished."

Thu, 04/19/2012 - 13:53 | Link to Comment RafterManFMJ
RafterManFMJ's picture

Once again, with feeling!

Thu, 04/19/2012 - 18:07 | Link to Comment boogerbently
boogerbently's picture

Exactly!

The further we get from Him, the lower we slide on the "ethics" scale.

 

Thu, 04/19/2012 - 18:06 | Link to Comment boogerbently
boogerbently's picture

Exactly!

The further we get from Him, the lower we slide on the "ethics" scale.

 

Thu, 04/19/2012 - 14:56 | Link to Comment Mesquite
Mesquite's picture

Works for Corzinne...

Thu, 04/19/2012 - 13:38 | Link to Comment YC2
YC2's picture

Tallest blade of grass gets the mower!

 

There's another level of understanding Ive learned.  Theres knowing whats going on and how to get through it, and knowing whats going on and knowing how to get through it with the knowledge that the rules of today will not apply when the time comes to do so.

Thu, 04/19/2012 - 13:10 | Link to Comment Divided States ...
Divided States of America's picture

Looks like Egan Jones gonna be gangbanged.

Thu, 04/19/2012 - 13:27 | Link to Comment economics9698
economics9698's picture

up the ass.

Thu, 04/19/2012 - 13:12 | Link to Comment Ruffcut
Ruffcut's picture

I am always hoping that henry kissassgers comment "useless eaters" applied to suckasses like at the SEC, among another 10 dozen clusterfuck organizations.  But, I highly doubt it.

Thu, 04/19/2012 - 14:04 | Link to Comment Bastiat
Bastiat's picture

Hey, they are not useless eaters, they have an important contribution to make:  keeping the biggest crooks safe from any real oversight.  A mobster things of a corrupt cop as a valuable asset.  These wankers earn their porn-time: they sold their integrity for it!

Thu, 04/19/2012 - 14:48 | Link to Comment Iwanttoknow
Iwanttoknow's picture

Henry kissinger is the biggest useless eater.Sice you quote him,you become one.

Thu, 04/19/2012 - 15:54 | Link to Comment Ruffcut
Ruffcut's picture

I am now deemed a useless shitter.

Thu, 04/19/2012 - 13:25 | Link to Comment LasVegasDave
LasVegasDave's picture

“Our government teaches people by example. If the government becomes the lawbreaker, it breeds contempt for law; it invites every man to become a law unto himself; it invites anarchy."

-Louis Brandeis

Thu, 04/19/2012 - 13:26 | Link to Comment beaker
beaker's picture

You rock, E-J!

Thu, 04/19/2012 - 13:08 | Link to Comment EscapeKey
EscapeKey's picture

The truth is what we tell you it is, slave.

Thu, 04/19/2012 - 13:46 | Link to Comment cossack55
cossack55's picture

"in a time of universal deceit, telling the truth is a revolutionary act"

                                                        Orwell

Thu, 04/19/2012 - 14:11 | Link to Comment UP Forester
UP Forester's picture

Daily whippings will continue until morale improves.

Thu, 04/19/2012 - 14:56 | Link to Comment pods
pods's picture

We adopted a variation of that as our unofficial company motto!

Thu, 04/19/2012 - 15:19 | Link to Comment UP Forester
UP Forester's picture

Top of departmental meeting two months ago:

"Tip of the week:  Be glad you have a job.  Imagine yourself without one."

Very reassuring....

Thu, 04/19/2012 - 13:08 | Link to Comment Lost Wages
Lost Wages's picture

Fuck da SEC.

Thu, 04/19/2012 - 13:09 | Link to Comment LongSoupLine
LongSoupLine's picture

And that's just one step further into the septic system for US and market culture.

Thu, 04/19/2012 - 15:03 | Link to Comment hidingfromhelis
hidingfromhelis's picture

...except septic systems take effluent and break it down, not leverage and multiply it.

Thu, 04/19/2012 - 13:11 | Link to Comment mayhem_korner
mayhem_korner's picture

 

 

So...Moody's & S&P are including site links in their filings, and Egan Jones doesn't?

Thu, 04/19/2012 - 13:10 | Link to Comment GrinandBearit
GrinandBearit's picture

When/where does the corruption end? 

Is everyone bought and paid for, or is this some alien experiement/plan to take over the entire human race?  Sure seems like the latter.

Thu, 04/19/2012 - 13:12 | Link to Comment Cdad
Cdad's picture

Who was it who took me to task a couple days ago about "Ending the SEC"?  Perhaps, today's headline will give pause to his criticism that the SEC needs the firehose treatment.

Thu, 04/19/2012 - 13:16 | Link to Comment Bay of Pigs
Bay of Pigs's picture

Regulatory capture.

Burn it to the ground. CFTC as well.

Thu, 04/19/2012 - 13:14 | Link to Comment singsing
singsing's picture

The Empire (of Lies) Strikes Back.

Thu, 04/19/2012 - 13:13 | Link to Comment StormShadow
StormShadow's picture

Someone really needs to give the SEC a hand (cough)

Thu, 04/19/2012 - 13:14 | Link to Comment ebworthen
ebworthen's picture

So...the "recognized" rating agencies that said junk was gold are left unfettered; as the "unrecognized" ratings agency that attempts realistic ratings is pursued by those who don't pursue criminal neglect and fraud right in their own backyard.

"A very merry un-birthday!"

"To Me?"

"Too You!"

Sang the Mad Hatter and the March Hare to a bewildered Alice.

Thu, 04/19/2012 - 13:20 | Link to Comment Shizzmoney
Shizzmoney's picture

This isn't the first time a state government went after a ratings agency after an "unfavorable result":

http://www.reuters.com/article/2012/01/24/us-italy-fitch-idUSTRE80N1II20120124

Let me get this straight: the ratings agencies did the bidding of the big banks and investment houses (Countrywide, Goldman) before the 2008 crash, and were skewered for it (rightfully so) by journalists and films such as Charles Ferguson's "Inside Job".

The ratings agencies then get serious about doing this correctly, especially the smaller ones, since there is now demand for it.

And after being transparent with their rulings, what happens when they lay the lumber?  Government agencies start to go after them after they downgrade these states' debt (correctly) due to sliding GDP, lack of tax income, and other analysis.

On top of that, Moodys and S&P goes unscathed (when they have ex-Goldman and JPM people working for them) and Fitch and Egan get the shaft.

Yeah, government agencies "work" for "the people".  That's it. 

Thu, 04/19/2012 - 13:44 | Link to Comment WAMO556
WAMO556's picture

It is called getting rid of the competition! Watch the GODFATHER for good tips on how coordinated eliminations are done! Just saying!

Thu, 04/19/2012 - 13:16 | Link to Comment Kali
Kali's picture

farcism at its finest!!

Thu, 04/19/2012 - 13:15 | Link to Comment wisefool
wisefool's picture

Most people dont realize this, but SEC-TRES is charge of both the IRS and the SS. Whether you are talking about "tanks in the streets" Paulson, or "It was an mistake,I'll make up for it" Geithner. You are seeing the last gasp of the Roman empire. It is simply the wrong way to go about things.

Thu, 04/19/2012 - 13:17 | Link to Comment azzhatter
azzhatter's picture

So predictable. Sadly the corruption will only end with a violent overthrow of TPTB. There is no other option, the ballot box doesn't work, protest doesn't work. The weenies only will respond to violence and their demise

Thu, 04/19/2012 - 13:17 | Link to Comment Royal Fleming
Royal Fleming's picture

booba  will stop at nothing to become the next dictator-in-chief. americans arent stupid, just incredibly lazy and short sighted. wtf should I care! nothing I can do. Im but one vote and the DoJ and eric holder has made it worthless. whatever, I gave up caring.

Thu, 04/19/2012 - 13:32 | Link to Comment pods
pods's picture

Well your learning is at least starting.  A vote is worthless for it's portrayed goal.  

It always has been since it became important to vote, and it is independent of what "party" is currently jacking off in power.

It was over as soon as the government gained enough power so that who ran the place mattered.

Look at it like this:

Voting only matters when the gun behind the votes can be pointed at you.  Who runs our government should NOT matter if we are a free people.

pods

Thu, 04/19/2012 - 13:41 | Link to Comment WAMO556
WAMO556's picture

Vote with lead, it really gets their attention!

Thu, 04/19/2012 - 13:45 | Link to Comment EscapeKey
EscapeKey's picture

If voting changed anything, it'd be illegal.

Thu, 04/19/2012 - 13:42 | Link to Comment EscapeKey
EscapeKey's picture

Obama's a figurehead. A red herring. You should be observing the man behind the curtain.

Do you seriously think it would have mattered one bit had John "bomb bomb bomb Iran" McCain been elected?

Both are owned lock, stock, and barrel by the banking syndicate, which also controls the Federal Reserve.

Thu, 04/19/2012 - 18:36 | Link to Comment BooMushroom
BooMushroom's picture

Find out which candidate has as their biggest donor, Goldman Sachs. Don't stop looking when you find the first one.

Thu, 04/19/2012 - 13:20 | Link to Comment carbonmutant
carbonmutant's picture

Sheila wasn't hired to go after corruption by White House supporters...

Thu, 04/19/2012 - 13:20 | Link to Comment Ted Baker
Ted Baker's picture

RUMOUR HAS IT: MANAGEMENT SHAKE UP AT A TOP TIER US BANK...TO HIT THE SHARE PRICE HARD

Thu, 04/19/2012 - 13:20 | Link to Comment mayhem_korner
mayhem_korner's picture

 

 

Any chance Barry has a bunch of volunteers over there trying to drudge up some pictures of Mitt-boy and the Mrs.?  I mean, how do they explain 16,000 sites in a month and no effort to impose any real filters?

Thu, 04/19/2012 - 13:19 | Link to Comment Dr. Engali
Dr. Engali's picture

What a bunch of fuckers. So Corzine can steal a billion six and he walks free,but an agency dares tell the truth and they get penalized. We are trully living in an upside down fascist state.

Thu, 04/19/2012 - 13:40 | Link to Comment WAMO556
WAMO556's picture

(SARC ON)

So what you gonna do?

Nothing!

Because if you take it to small claims court or any other court, it will just drain 8 hours out of your life and GS/JPM probably won't show up and even if you did get the judgment they would just stiff you anyway; so what you're going to do is piss and moan like an impotent jerk, and then bend over and take it up the tailpipe!

(SARC OFF)

Thu, 04/19/2012 - 13:20 | Link to Comment alexwest
alexwest's picture

nice . and Mr Corzine is yet to be even accused..

its beyond pathetic..

alx

Thu, 04/19/2012 - 13:23 | Link to Comment Seorse Gorog fr...
Seorse Gorog from that Quantum Entanglement Fund. alright_.-'s picture

Did anyone rub one out while at their desk?

 

To be fair to them, the SEC is just somewhere to go to kill 8 hours a day. Might as well stock up on porn then!

Thu, 04/19/2012 - 13:23 | Link to Comment pods
pods's picture

Must be their filing statement said they would do as they were told?

I say burn the whole thing down.  It's the only way to be sure.

pods

Thu, 04/19/2012 - 13:27 | Link to Comment A_S
A_S's picture

Most of you must have noticed that a lot of people really don't see the difference between perception and reality. The most sheep like ones of them even think there is no reality only this stupid game you win by being policially correct and conformist. 

I think our society has become so corrupt and blind to reality that these animals are now in charge. I hope it ends soon.

Thu, 04/19/2012 - 13:26 | Link to Comment the not so migh...
the not so mighty maximiza's picture

The court case should be amazing.

Thu, 04/19/2012 - 13:26 | Link to Comment gimli
gimli's picture

Hmmmmm....... SEC performs the ultimate blow job

Thu, 04/19/2012 - 13:26 | Link to Comment carbonmutant
carbonmutant's picture

Does watching porn lead to manipulation?

Thu, 04/19/2012 - 13:56 | Link to Comment Dr. Richard Head
Dr. Richard Head's picture

No, but it does lead to masturbation. 

Thu, 04/19/2012 - 14:05 | Link to Comment Shitters_Full
Shitters_Full's picture

aka self-manipulation

Thu, 04/19/2012 - 14:08 | Link to Comment Dr. Richard Head
Dr. Richard Head's picture

Or High Frequency Ejaculation.

Thu, 04/19/2012 - 13:46 | Link to Comment JustObserving
JustObserving's picture

"Just weeks after Standard & Poor’s downgraded the credit of the U.S. the ratings agency announced that its president of four years is stepping down.

The McGraw Hill Companies announced that Deven Sharma, 55, will step down next month and will be replaced by Citigroup COO Douglas Peterson."

"In a time of universal deceit - telling the truth is a revolutionary act."

George Orwell

Speaking the truth is somewhat suicidal in the land of the free, as Deven Sharma and Egan-Jones are finding out.  Our corruption is complete.

Thu, 04/19/2012 - 13:29 | Link to Comment gitta4437
gitta4437's picture

Today is a truly scary day with all spin we're being fed.  Tyler, you pointed that out first thing this morning:   I'm worried about you...hope you've got some bodyguards....I think there are a couple of Secret Service guys looking for a job  (sorry, bad joke ... but seriously, protect yourself).

Thu, 04/19/2012 - 14:02 | Link to Comment Dr. Richard Head
Dr. Richard Head's picture

I think the powers that be could care less about information being sent out about the ruse being played on us all.  God knows I have forwarded hundreds of articles from this site.  I typically get a response of, "Economies are so complicated" or "That is just conspiracy" or different variations of the sort. 

I gave up proselytizing truth around me.  People don’t understand fundamental economics, don’t care, or are too busy trying to climb the ladder in the delusion that if they just work hard enough they will be in the 1%.  Fuck ‘em.  No man is an island, but I will just focus on me and my family at this point.  I would say I would stay off the radar too, but I’ve dripped more blips on the radar than an SEC “regulator” covering his computer screen after a good midget-transvestite, beastiality, poop fetish clip.   

 

Thu, 04/19/2012 - 13:29 | Link to Comment SilverFish
SilverFish's picture

Hey, I used to get into midget porn.

 

Think they would hire me?

Thu, 04/19/2012 - 13:30 | Link to Comment ArrestBobRubin
ArrestBobRubin's picture

MARY SHAPIRO = FOX

SEC = Henhouse

What, we're shocked? She's Gensler with tits.

Thu, 04/19/2012 - 13:30 | Link to Comment YesWeKahn
YesWeKahn's picture

Porn made them humble.

Thu, 04/19/2012 - 13:39 | Link to Comment q99x2
q99x2's picture

You know my dad fought in WWII and he's hopping mad at 86 about these banksters. To him they seemed to have popped into existance out of nowhere like a virus plague upon the world. Of course he says the same and worse about other drivers. But he says the banksters are going to steal the pension funds by way of these SEC and ratings agencies.

Thu, 04/19/2012 - 14:03 | Link to Comment Dr. Richard Head
Dr. Richard Head's picture

Just remind him that he fought for our freedom. 

Thu, 04/19/2012 - 18:13 | Link to Comment Not Too Important
Not Too Important's picture

He fought for banker profits. Who says we won?

Thu, 04/19/2012 - 13:38 | Link to Comment f16hoser
f16hoser's picture

I'm curious as to what the DOJ has to say. They will surely add some credibility to this case!

Thu, 04/19/2012 - 14:07 | Link to Comment Dr. Richard Head
Dr. Richard Head's picture

Like "fast and Furious" only with a knuckle shuffle tussle on the old wanky.  One could be lead to believe the DOJ has been supplying the porn links of various goatse, gay sperm guzzling porn sites to the SEC so that the DOJ can encourage another avenue for Congress to pass legislation to shut down the internet.  Create the problem, provide the solution.  Jizz mop the computers with a part water, part bleach solution. 

Thu, 04/19/2012 - 13:41 | Link to Comment Everybodys All ...
Everybodys All American's picture

Captured regulatory in more ways than one. Egan Jones needs to sue these guys in Federal court. Oh I forgot that won't work either.

Guess it's time to move overseas ...

Thu, 04/19/2012 - 13:42 | Link to Comment fuu
fuu's picture

His name was Egan-Jones.

Thu, 04/19/2012 - 13:44 | Link to Comment tony bonn
tony bonn's picture

there is no doubt that gensler and schapiro are crooks, but it is also true that gensler was physically threatened by a bankster not to meddle with the pm markets - probably the same one who shit on his dinner tray aboard a flight to south america several years ago....i also believe he was flying first class...

anyone waiting for gensler to do anything is a fucktard. same for schapiro - chronic cunt of the regulatory world....

Thu, 04/19/2012 - 13:44 | Link to Comment rosiescenario
rosiescenario's picture

Not that there is anything to add.....BUT THIS IS ABSOLUTELY PHUQUING UNBELIEVEABLE.

 

Just when it was becoming hard to believe our government could hit new lows in moral corruption, the SEC sets a new all time personal best high bar that will be difficult for any other agency to jump over,though I am absolutely sure the BATF or Homeland Sekurity will find some way to top this.

 

When we have a president who is obviously bought and paid for by several special interest groups (such as Monsanto recently proved) I guess it makes complete sense that the rest of the apparatus is equally immoral.

 

We have here a government of the people, by the psycopaths.

Thu, 04/19/2012 - 13:44 | Link to Comment marcusfenix
marcusfenix's picture

not that long ago it seemed the PTB's would give us some astonishingly absurd, retarded and often times downright psychotic actions to chew on via the headlines once or twice a week.

then, it seemed like once a day you would come across something that caused you to wonder if they are all indeed really grey skinned reptilian aliens.

cause normal humans just don't think or act like these psychos.

now it's just idiocy 24/7, these people (and i use the term loosely) have wandered way off the edge of the map...

Thu, 04/19/2012 - 13:44 | Link to Comment jmcadg
jmcadg's picture

I'm thinking the SEC's broadband connection was down for a while and someone was angry they hadn't cracked one off for a good 5 mins.

It's understandable.

Thu, 04/19/2012 - 13:50 | Link to Comment IMA5U
IMA5U's picture

There aint nothing wrong with p0rn

It means some of the robots at The SEC may actually have a pulse

 

Thu, 04/19/2012 - 13:57 | Link to Comment Bastiat
Bastiat's picture

All addictions are toxic.

Thu, 04/19/2012 - 16:21 | Link to Comment wisefool
wisefool's picture

If 80,000 pages of tax code cant run (sic) the economy, might as well try to get a three way in columbia where only one guy pays. And its not the concubine who is squeeling, its one of the two SS "yankee white" agents.

News coverage from our Chinese masters.

http://www.youtube.com/watch?v=p9yRnRa3NW4

Thu, 04/19/2012 - 13:54 | Link to Comment Sleepless Knight
Sleepless Knight's picture

We are so screwed. Come on SHTF!

Thu, 04/19/2012 - 13:56 | Link to Comment slewie the pi rat
slewie the pi rat's picture

the word is cornholed

Thu, 04/19/2012 - 13:55 | Link to Comment Bastiat
Bastiat's picture

In California, Jerry Brown, pushed and singed a law to dissolve all 400+ Redevelopment Agencies (so he and his school union buddies could grab the money).  The language in the law introduced changes in the handling and management of the revenue streams pledged to the $14bln or so outstanding redevelopment bonds.  On this basis (and some others) Moodys head redevelopment analyst downgraded all agencies in the state one notch -- she had previously put them on credit watch as this was pending.  The first analysis was rather strong, the next few were more and more diluted.  And now, surprise, she no longer works for Moody's. 

BTW Jerry Brown's sister is the Squid's head of public finance for the western US.  Such connections are always worth noting.

There are some good people at the rating agencies--it varies by department.  The negligence or corruption of the structured products group brought us AAA asset backed credit wrapped subprime crap and the 2008 meltdown.  I get the feeling the sovereign group has had the whip cracked on them.  Mostly the muni group is good but it varies by state and the more powerful the issuer, the less likely anyone's telling it straight, imho.  Anyway,  in the CA muni world there's one less honest voice now.

 

Thu, 04/19/2012 - 13:58 | Link to Comment junkyardjack
junkyardjack's picture

Its about time the SEC got involved.  How long could our markets function if people are out there spreading truth about fraud companies.  Until the case is tried in kangaroo court we should throw the whole lot of them in gitmo, now that we can arrest US citizens indefinitely for no reason, just to play it safe.  This is a smart move and will show investors that they can feel safe investing billions of dollars in Angry Birds and sites based off LOLCats

Thu, 04/19/2012 - 13:58 | Link to Comment Platinum_Investor
Platinum_Investor's picture

The US is becoming an utter embaracement.  Free country?  What free country.  Most controlled citizens in the world.

 

Thu, 04/19/2012 - 14:01 | Link to Comment Dr. Engali
Dr. Engali's picture

Becoming an embarrassment? This is beyond embarrassing. We are living in a fucking toilet bowl.

Thu, 04/19/2012 - 18:09 | Link to Comment Not Too Important
Not Too Important's picture

Known to everyone but us, so to speak.

Thu, 04/19/2012 - 14:00 | Link to Comment Dr. Engali
Dr. Engali's picture

This is what we get when we allow a system with just a "little bit of corruption". It grows into an ungodly beast that will consume us all if it isn't torched first.

Thu, 04/19/2012 - 14:04 | Link to Comment Platinum_Investor
Platinum_Investor's picture

And the sadest part is that there is really not much we can do.  It's out of our hands.  They control the media, control the internet, you can't roit, you can't demonstrate, anyone you vote for is all controlled by the same powers behind them.  It's just a wait till it all implodes type of game only then can we start fresh hopefully.

Thu, 04/19/2012 - 14:15 | Link to Comment Zero Govt
Zero Govt's picture

you are not the powerless can-do-nothing 'victim' you make yourself out to be

we have the power, as individuals, to end this rotten system anytime we take a stand and stop paying our taxes

Zero Tax =  Zero Govt (and all the parasites that hang off that rotten fruit)

Thu, 04/19/2012 - 14:01 | Link to Comment dwdollar
dwdollar's picture

Yep, the corruption is "in your face" now. Still think the elections are legitimate?

Thu, 04/19/2012 - 14:07 | Link to Comment Platinum_Investor
Platinum_Investor's picture

The elections are rigged, everything is rigged.  It really doesn't matter anymore to them if it's clearly in front of you or not.  Were screwed!

Thu, 04/19/2012 - 14:02 | Link to Comment boatwhiskers
boatwhiskers's picture

It's really is!!    Alice in FuckingWonderland!

Slap me! ...will ya?

Mon, 04/23/2012 - 18:56 | Link to Comment poorhardworker
poorhardworker's picture

Sorry, I don't have time to slap you...too busy trying to survive the corruption!  Maybe when time are better...raincheck?

Thu, 04/19/2012 - 14:10 | Link to Comment Zero Govt
Zero Govt's picture

"..the recent WSJ hit piece against Egan,,"

the WSJ had a survey only last week asking readers what they thought of Regulators performance... at the end the WSJ stated Regulators had "prosecuted hundreds of Directors and Companies..."

Yep, all trivia, all small fry, all competition to the Big NY Cartel

"..the SEC still has NO IDEA what the definition of liquidity is.."

The more damning inditement is they obviously have no idea what the warehouses full of regulations are or how to prosecute them against major systemic risk and rampant fraud NY banks 

Regulators have put themselves out of a job, drowned in waisted regulations of their own making that they then refused to use against their major fee-paying benefactors (the NY cartel banks). Anyone see a glaring conflict of interest?

.. so much for looking out for consumers or the markets best interests

Thu, 04/19/2012 - 14:09 | Link to Comment yogibear
yogibear's picture

They go after Martha Stewart but don't proscecute dis-honorable Jon Corrzine. They might as well dis-band the SEC. Taxpayers would save a load of money.

The SEC is busy watching porn.

The Secret Service is busy visiting hookers.  

Seems good areas to cut.

 

Thu, 04/19/2012 - 14:10 | Link to Comment lolmao500
lolmao500's picture

An SEC accountant attempted to access porn websites 1,800 times in a two-week period and had 600 pornographic images on her computer hard drive.

Amateur.

Thu, 04/19/2012 - 14:11 | Link to Comment Dr. Richard Head
Dr. Richard Head's picture

Sounds like a girl I would want to meet actualy.  Anyone have a picture of the gal?

Thu, 04/19/2012 - 14:27 | Link to Comment machineh
machineh's picture

Forget it. She was prolly trawling for hot lesbo action, using search terms such as 'Elena Kagan nude.'

'Scuse me while I blow lunch ... 

Thu, 04/19/2012 - 14:34 | Link to Comment MonsterBox
MonsterBox's picture

lusting over our girl Blythe Masters.....

Thu, 04/19/2012 - 14:10 | Link to Comment SDRII
Thu, 04/19/2012 - 14:10 | Link to Comment Pancho Villa
Pancho Villa's picture

What? You thought the job of the SEC was to go after people like Corzine and Madoff? How simple of you!

The SEC's real job is to crack down on rating agencies that tell the truth. These financial terrorists (since everyone the the government doesn't like is a terrorist these days) must be stopped. Truth = thought crime.

Thu, 04/19/2012 - 14:10 | Link to Comment Frank N. Beans
Frank N. Beans's picture

"And another SEC accountant attempted to access porn sites 16,000 times in a single month."

 

that's 1.5 times per minute, every minute (given 22 working days a month)

i mean how much time can you really spend jerking off (literally) at work? 

why not just read a good book if there's nothing else to do?

But these figures have to be exaggerated (not that there's anything WRONG with accessing porn at work)

Thu, 04/19/2012 - 14:14 | Link to Comment Dr. Richard Head
Dr. Richard Head's picture

I have a neighbor that works for some city nearby in their roads department.  He is very proud of his bunk area that he created complete with cot, pillows, night stand, and entertainment center.  He showed me a picture of it and I ask, "Is that for night shift or something?" He replied, "Hell no!  I work day shift.  Sleeping is much easier than trying to look busy." 

 

Thu, 04/19/2012 - 16:08 | Link to Comment NotApplicable
NotApplicable's picture

After seeing the frequency of access at the SEC (i.e. "non-stop"), I have to wonder just how much of it is driven by cognitive dissonance (ignoring those worthless people who made it on nepotism/good ole boy club who've never really ever worked, of course).

Picture yourself in the situation as a "loyal American" who wants to make the world a better place (the fantasy of the "public servant").  You've worked long and hard to reach what many might consider to be a pinnacle career position. Yet the once you set foot in the place, you notice that nothing is what you thought it was. Instead, you find yourself in the midst of an agency that's been "captured." All around you people are either pretending to work, or not even bothering at all. If you attempt to work on anything meaningful, you find nothing but roadblocks coming down the chain-of-command, Meanwhile, your coworkers despise you for making them look bad (something they'd prefer not to think about), and your boss is always stuck in the middle and hates you too.

Add to all of that, you're in DC, scumbag capital of the world. Now, while the "right thing" to do would be to quit and blow the whistle, it would result in career suicide.

In light of all of this, the SEC porn addiction makes perfect sense, as the addiction is the only outlet left for you to feel normal. Or feel, at all, as everything else has to be walled off to protect the inner self that refuses it is really this corrupt.

Now, multiply this by the myriad of government agencies and suddenly it becomes obvious just why the world is so fucked up, and how it isn't going to change anytime soon.

Personally, I feel nothing but pity for anyone in this situation. After all, they can't get to ZH from those places.

Thu, 04/19/2012 - 18:09 | Link to Comment Not Too Important
Not Too Important's picture

Remind me not to sit in their chairs . . .

Thu, 04/19/2012 - 14:12 | Link to Comment Frastric
Frastric's picture

There's one thing better than midget porn; MIDGET TOSSING!

Thu, 04/19/2012 - 14:23 | Link to Comment Lux Fiat
Lux Fiat's picture

In Argentina, opposition law makers provide non-government estimates of inflation because it is illegal or very difficult for private sector organizations to do so.  Seems the US is taking yet another step down the path so well worn by Argentina and others.  Perhaps there is merit to the SEC view, but from here it certainly smacks of abuse of gov't power.

"Opposition lawmakers announced on Thursday that prices rose 1.9% in January and approximately 23.5% in the last twelve months based on estimates of private economic consultancies which are banned from making public their estimates unless they follow official procedure for the estimates.

Early last year, Interior Commerce Secretary Guillermo Moreno imposed fines of as much as 500.000 pesos (115.000 dollars) on researchers for reporting that prices were rising faster than officially reported. Ecolatina and Orlando Ferreres & Asociados two internationally prestigious consultancies were among those sanctioned."

From http://en.mercopress.com/2012/02/11/argentine-government-and-private-sector-coincide-inflation-is-climbing-and-fast

Thu, 04/19/2012 - 16:13 | Link to Comment NaN
NaN's picture

The Billion Prices Project went non-public by becoming Price Stats.  The hidden registration link is:  Price Stats Registration  But that page displays "User registration is currently not allowed."

I thought they promised data would be available to reality seekers everywhere.  Is AR preventing free speech in US?

 

Thu, 04/19/2012 - 14:55 | Link to Comment YesWeKahn
YesWeKahn's picture

honesty and integrety are fu cked.

Thu, 04/19/2012 - 14:55 | Link to Comment YesWeKahn
YesWeKahn's picture

honesty and integrety are fu cked.

Thu, 04/19/2012 - 15:00 | Link to Comment ZeroPoint
ZeroPoint's picture

Marilyn Manson said it best: "Capitalism has made it this way, old fashioned fascism will take it away....."

Thu, 04/19/2012 - 15:21 | Link to Comment lolmao500
lolmao500's picture

Saying the emperor has no clothes (while the SEC watches the King having sex) is a crime in Soviet Amerika!

Thu, 04/19/2012 - 15:31 | Link to Comment Clowns on Acid
Clowns on Acid's picture

If you can't bullshit 'em, sue 'em. It's the US Gov't way.

Thu, 04/19/2012 - 15:34 | Link to Comment Clowns on Acid
Clowns on Acid's picture

Have Corzine investigate Egan Jones.....Jonny boy has time on his hands.

Mon, 04/23/2012 - 18:46 | Link to Comment poorhardworker
poorhardworker's picture

He doesn't have that much time...because he is busy bundling for Obama!  Slime!

Thu, 04/19/2012 - 15:36 | Link to Comment NaN
NaN's picture

An obvious payback for the US downgrade.

From the systemic viewpoint, this is like an auto-immune disease.

 

Thu, 04/19/2012 - 16:44 | Link to Comment ActionFive
ActionFive's picture

We need to raise the debt ceiling again in a few months. Let this be a lesson to any do-gooder left alive.

Imagine the daily torture of every ethical/faithed/moral employee working these halls.

Or maybe not. 

Thu, 04/19/2012 - 15:45 | Link to Comment SubjectivObject
SubjectivObject's picture

Thankfully, EJ appears to be more in command of facts than the SEC, so defense should be a cakewalk.  Que the next SEC embarrassment.

Thu, 04/19/2012 - 18:07 | Link to Comment Not Too Important
Not Too Important's picture

Next SEC embarassment?

How about when Egan-Jones gets millions of dollars in free publicity? EJ is hoping this drags on for years, and is in the financial news daily. They couldn't buy better advertising than this.

They can deduct all their legal bills as advertising expenses, too! This is great!

In a month every trader on the planet will know who they are, and the business is going to pour in. Not to mention killing whatever is left of the competitors.

I hope Holder gets involved. That should be good for another few dozen mil in billings.

Thu, 04/19/2012 - 15:49 | Link to Comment roadhazard
roadhazard's picture

Reading this thread is proof that there are no adjectives strong enough to describe how fucked up this country is. There is no climbing out of this, everything is going to have to start from scratch one way or another. Our Founding Fathers are rolling in the grave.

Thu, 04/19/2012 - 16:14 | Link to Comment rlouis
rlouis's picture

SExC - what a joke.  

Thu, 04/19/2012 - 16:17 | Link to Comment Dingleberry
Dingleberry's picture

Was egan jones the only rating agency that did not jump on the "AAA" subprime bandwagon like S&P, Moody's, etc?

Thu, 04/19/2012 - 16:27 | Link to Comment Bastiat
Bastiat's picture

 

 

"The report concluded that most of the cases began in 2008, just as the financial system began to collapse, and the problem hasn't stopped."

It takes strong and primitive stimulus to distract from self-knowledge and guilt. 

 

 

 

Thu, 04/19/2012 - 20:50 | Link to Comment Ned Zeppelin
Ned Zeppelin's picture

WSJ little better than a mouthpiece for a hopelessly rudderless Wall Street regime and ditto the bureacratic, useless goonsquad at the SEC.  I read the WSJ to see what the pointed heads are saying I am supposed to think purely for its comedic entertainment value.  We know we have a captured regulatory system - WSJ is the poster child for a captured Mass Media outlet.  Let alone Faux News, let alone the anti Faux MSNBC. 

Like reading Blankfiend's version of the National Enquirer and about as informative. Best use: training puppies and wrapping dead fish.  Dipshits.

Rant off /s/

Mon, 04/23/2012 - 18:49 | Link to Comment poorhardworker
poorhardworker's picture

The SEC has lost all credibility!  They were "in-house" with Lehman Brothers before it's demise and they had ample time to comment on the correctness of their financial reports...and DIDN"T!!!  Feckless organization!  They won't go after the higher ups who are culpable because they will be implicated in the fraud!

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