The SEC blows it again, but we need more regulations.

M

Max E.

Some clown who was probably stuck long on AVP created a fake company named PTG, a play on TPG's name, then they put in a fake bid for AVP at 18.75, which would have been a 300% premium to what it is trading at today. Both the SEC and CNBC bought it, hook line and sinker. AVP is shrinking and currently losing 300 million per year, who the fuck would buy it at a 300% premium?

Funny thing about this story is the people who made up the fake company listed their phone number with a cell phone number, and in order to describe themselves, they literally copied and pasted TPG's "about us" section straight from their website. Thankfully the SEC is retarded because it was free money shorting it, but i feel sorry for the poor bastards who were buying it at 8.

Keep those regulations on wallstreet rolling libturds, the regulators are doing a bang up job as it is.
 
Now some donkey, (probably the same guy who is stuck long) is posting level after level of fake 50k share bids, but the SEC is supposedly monitoring this, LOL.
 
Yes, yes we do. Idiot.

Many causes for the financial crisis have been suggested, with varying weight assigned by experts.[14] The U.S. Senate's Levin–Coburn Report concluded that the crisis was the result of "high risk, complex financial products; undisclosed conflicts of interest; the failure of regulators, the credit rating agencies, and the market itself to rein in the excesses of Wall Street."[15] The Financial Crisis Inquiry Commissionconcluded that the financial crisis was avoidable and was caused by "widespread failures in financial regulation and supervision," "dramatic failures of corporate governance and risk management at many systemically important financial institutions," "a combination of excessive borrowing, risky investments, and lack of transparency" by financial institutions, ill preparation and inconsistent action by government that "added to the uncertainty and panic," a "systemic breakdown in accountability and ethics," "collapsing mortgage-lending standards and the mortgage securitization pipeline," deregulation of over-the-counterderivatives, especially credit default swaps, and "the failures of credit rating agencies" to correctly price risk.[16] The 1999 repeal of the Glass-Steagall Act effectively removed the separation between investment banks and depository banks in the United States.[17] Critics argued that credit rating agencies and investors failed to accurately price the risk involved with mortgage-related financial products, and that governments did not adjust their regulatory practices to address 21st-century financial markets.[18]
 
futurecurrents said:
Yes, yes we do. Idiot.

Many causes for the financial crisis have been suggested, with varying weight assigned by experts.[14] The U.S. Senate's Levin–Coburn Report concluded that the crisis was the result of "high risk, complex financial products; undisclosed conflicts of interest; the failure of regulators, the credit rating agencies, and the market itself to rein in the excesses of Wall Street."[15] The Financial Crisis Inquiry Commissionconcluded that the financial crisis was avoidable and was caused by "widespread failures in financial regulation and supervision," "dramatic failures of corporate governance and risk management at many systemically important financial institutions," "a combination of excessive borrowing, risky investments, and lack of transparency" by financial institutions, ill preparation and inconsistent action by government that "added to the uncertainty and panic," a "systemic breakdown in accountability and ethics," "collapsing mortgage-lending standards and the mortgage securitization pipeline," deregulation of over-the-counterderivatives, especially credit default swaps, and "the failures of credit rating agencies" to correctly price risk.[16] The 1999 repeal of the Glass-Steagall Act effectively removed the separation between investment banks and depository banks in the United States.[17] Critics argued that credit rating agencies and investors failed to accurately price the risk involved with mortgage-related financial products, and that governments did not adjust their regulatory practices to address 21st-century financial markets.[18]
More...

So you want to add more government agencies that will continue to be inept at regulating because they're corrupt/incompetent or both. When something doesn't work, we need more of that something to make it work!

Or, as Einstein put it, the Definition of Insanity: Doing the same thing over and over again but expecting different results.
 
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