Comments on: Gut the SEC, catch the next Madoff http://blog.aynrandcenter.org/gut-the-sec-catch-the-next-madoff/ Sun, 28 Feb 2010 05:03:10 -0800 hourly 1 By: Mikiel de Bary http://blog.aynrandcenter.org/gut-the-sec-catch-the-next-madoff/comment-page-1/#comment-1796 Mikiel de Bary Fri, 16 Oct 2009 19:30:25 +0000 http://blog.aynrandcenter.org/?p=4125#comment-1796 Very well done. I am an old-timer in the securities industry, and I've always been annoyed by the regulation, which punishes the honest, by dictating many costly and irrelevant minutiae in their operations. Regulation treats everyone as a presumptive crook who should be made to act in a certain way to facilitate his own capture. At the same time, the dishonest breezily go about with their schemes, under the cover of the S.E.C.'s imprimatur--the false impression given to investors that government is keeping everything on the up and up. In this way, I believe, regulation actually fosters dishonesty and fraud, and disheartens the honest. Anyway, keep up the good work. Mike de Bary, NYC Very well done. I am an old-timer in the securities industry, and I’ve always been annoyed by the regulation, which punishes the honest, by dictating many costly and irrelevant minutiae in their operations. Regulation treats everyone as a presumptive crook who should be made to act in a certain way to facilitate his own capture. At the same time, the dishonest breezily go about with their schemes, under the cover of the S.E.C.’s imprimatur–the false impression given to investors that government is keeping everything on the up and up.

In this way, I believe, regulation actually fosters dishonesty and fraud, and disheartens the honest.

Anyway, keep up the good work.

Mike de Bary, NYC

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