Is this the same SEC that failed us in the matter of FannieMae and FreddieMac? Why aren’t heads rolling at this den of incompetence? OH, government bureaucrats don’t get fired for incompetence! Excuse me. I must have lost my head for even thinking so.
The one smart thing McCain did during the election was to call for the firing of Christopher Cox. How does this moron keep his job? All of the money manager experts I’ve heard on the cable channels have been screaming that he’s the biggest screwup in the government and that he should be tossed out on his can. Bush, as usual, does nothing. Who is responsible for Bush’s lousy appointments? Why doesn’t he fire people when it’s obvious they’re not doing their jobs?
I don’t know but my wild guess is that the talent pool for SEC staff is really limited — anyone who has the interest, intelligence, and competence to deal with such matters at a high level can get rich — so why would they want to be a bureaucrat with the SEC?
Reminds me of a revision of the old saw:
“Those who can’t do, teach; Those who can’t teach become govt. bureaucrats”