After a disheartening week of political news that leaves you wanting to bungee jump without a cord, there’s finally some awesome news to celebrate. Wall Street continually reminds us all of just how complex their jobs are, and that we’d never understand the intricacies of the financial market. Well, although the SEC lost the latest case against a Citigroup “scapegoat”, they were handed something that rarely happens: a message from the jurists.
“This verdict should not deter the S.E.C. from continuing to investigate the financial industry, review current regulations and modify existing regulations as necessary.”
Guess what? The people are on to the atrocities being committed in the name of fiscal championship by the titans of the marketplace. They don’t want those who really perpetrated this global mess to walk away with no punishment, so they spoke directly to the SEC. The global financial markets are on notice: what the regulators are forgiving, the people aren’t. The free ride is over. Maybe that’s why Sandy Weill is throwing all of you under the bus?
Read more about story of the dedication of people who want the right thing to be done in the NY Times. It’s an amazing article and statement by the people.