Free Republic

Touting historically low approval ratings rivaling that of paper cuts and hay fever, one might think Joe Biden and his handlers cared enough about voter sentiment to address the more problematic areas of his administration serving to inflame his unpopularity. An obvious place to start would be to cut bait with the capricious, reckless, and rogue Chairman at the Securities and Exchange Commission (SEC), Gary Gensler. That Biden has yet to remove the haughty Gensler is an affirmation of all that is wrong with his presidency and the SEC itself, whose continued bungling has drawn the ire of millions of...

The SEC’s long-standing three-part mission—to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation—remains its touchstone. The core principles the agency has applied over the past 88 years to carry out this mission are timeless: requiring issuers raising capital to make full and fair disclosures to investors on a regular basis; placing heightened responsibilities on key market participants; and using SEC examination and enforcement resources to bolster those requirements and protect investors.

But as the crowd pushes inside, a wiry man with elfin features is sprinting out of the venue, past astonished selfie takers and venture capitalists. Some call out, imploring him to stay; others even chase him down the street, on foot and on scooters. Yet the man outruns them all, disappearing into the privacy of his hotel lobby, alone. Vitalik Buterin, the most influential person in crypto, didn’t come to Denver to party. He doesn’t drink or particularly enjoy crowds. Not that there isn’t plenty for the 28-year-old creator of Ethereum to celebrate. Nine years ago, Buterin dreamed up Ethereum...

Several individuals connected to a 2016 Hillary Clinton campaign plot to cast Donald Trump as a covert Kremlin collaborator are working in high-level jobs within the Biden administration—including at least two senior Biden appointees cited by Special Counsel John Durham in his “active (and) ongoing” criminal investigation of the scheme, according to recently filed court documents. Jake Sullivan, who now serves as Biden’s national security adviser, and Caroline Krass, a top lawyer at the Pentagon, were involved in efforts in 2016 and 2017 to advance the Clinton campaign’s false claims about Trump through the media and the federal government, documents...

Gary Gensler is the current head of the SEC. He was formerly Hillary’s campaign CFO. He’s tied into the Durham investigation. The former Director of the SEC under President Trump, Bill Hinman was involved in what is now considered criminal activities related to cryptocurrency activities with China. These people are above the law. No agency is safe. They all seem to take advantage of their positions to make money and stomp on the little people. We noted previously that the current head of the SEC was Hillary’s attorney when millions of dollars were flowing around with some paying for the...

WASHINGTON (Reuters) - The top Republican on the Senate Banking Committee on Tuesday criticized the Commodity Futures Trading Commission's handling of MF Global's meltdown and said its chief is "evading" questions about his role in overseeing the company. Senator Richard Shelby said MF Global customers are waiting for their money to be returned while a "bewildered" CFTC searches for the funds. "The victims of MF Global, I believe, deserve better," Shelby said. Shelby made his comments at a Senate Banking Committee hearing on the implementation of the 2010 Dodd-Frank financial oversight law. CFTC Chairman Gary Gensler is testifying at the...

WASHINGTON (Reuters) - U.S. regulators are launching a broad review into the business practices of failed futures brokerage MF Global Holdings Ltd as their hunt continues for over $600 million in missing customer money. Round-the-clock shifts for examiners have become the norm as they sort through the collapse of the firm headed by former New Jersey Governor Jon Corzine. MF Global filed for bankruptcy on Monday after risky bets on European debt scared away clients and investors. "We will look at every aspect of how the firm conducted business," Mary Schapiro, chairman of the U.S. Securities and Exchange Commission, told...

WASHINGTON (AP) -- The regulator overseeing the investigation of Jon Corzine's collapsed securities firm, MF Global, gave $10,000 to the New Jersey Democratic Party in 2005 as Corzine ran for governor of that state. Gary Gensler, chairman of the Commodity Futures Trading Commission, and Corzine had worked together for 18 years at Goldman Sachs Group Inc. and later collaborated to pass a law to combat corporate fraud. Election records show Gensler gave the money in August 2005. Corzine, a Democrat, was elected governor later that year. MF Global filed for bankruptcy protection on Monday. Gensler and other regulators are trying...

WASHINGTON (AP) -- The lead regulator investigating the collapse of Jon Corzine's securities firm, MF Global, worked alongside him for 18 years at Goldman Sachs Group Inc. The two later collaborated to pass a law intended to prevent accounting scandals. Gary Gensler, chairman of the Commodity Futures Trading Commission, rose to become Goldman's co-head of finance before leaving in 1997. Corzine left Goldman in 1999, after serving as chairman and CEO. The two later collaborated when Corzine was a senator and Gensler worked on Capitol Hill. As a key staffer for Sen. Paul Sarbanes, D-Md., Gensler advised Sarbanes on the...

On the heals of the mortgage and investment banking collapse, the latest $50 billion fraud allegedly perpetrated by Wall Street mogul Bernard Madoff adds to the growing concern about whether incoming President Barack Obama will support effective regulation of the financial industry. Look at the nominees to see why I'm concerned. Obama last week tapped Mary Schapiro to lead the U.S. Securities and Exchange Commission. A former SEC commissioner, she now heads the Financial Industry Regulatory Authority, which oversees all U.S. brokerages selling securities. Because her agency should have caught Madoff, charges that she was asleep at the wheel raises...