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We are holding celebrities accountable but big banks …. We have limited resources… lol
We are holding celebrities accountable but big banks …. We have limited resources… lol from wallstreetbets
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Make fines severe enough so thry won’t simply be seen as a buisness expense
We are utilizing all of our resources!
Also…we have no resources.
Tldr: SEC has no power to do fuck all
The untouchables, the corrupting, the owners of the casino.
Can we all appreciate that for some reason Jon Stewart is the only person with access to ask Gary Gensler questions. What fucking world are we in where the SEC is only accountable to a mostly retired talk show host
Jon Stewart has done more for this county than the entirety of the government the past 8 years.
Fuk you Gary you mister burnz looking mfkr lol
What a shitstain. Skirting the questions and giving generic talking points. The market is for the rich to become richer. Fuck these cunts.
Fuktard
Sir, this is a casino.
GG is not even a useful idiot.
He’s an assclown whose lost all credibility.
Holding celebrities accountable? What the hell is he talking about?
John Stewart for president
Guys a joker!!!
SEC is the faux financial police. Their job is to make it appear like the system isn’t rigged.
Proof:
The Federal Reserve timed the top of the S&P perfectly when they announced their decision to stop trading stocks.
Nobody responsible went to jail for the 2008 great financial crisis
Gensler will work for Goldman Sachs in 2 years. Guaranteed
That’s because the right wants dummies to believe celebrities are the rich elite
I think the biggest problem is that they have let all the banks and financial institutions become so entwined and reliant on each other that if they make fines actually a deterrent or start to implement other penalties then the banks threaten the market will go into stress with will kill the whole economy. It’s by design, they’ve created their own license to do what they like with minimal consequence because they know the tax payer will foot the bill, while ripping off the same tax payer the whole time. They know they can’t lose.
JStew still a legend
When you steal from a shop, you have to give the item back or pay damages to the owner.
Additionally, you have to pay a fine or go to jail.
​
However, if you steal in the stock market, you get to keep your loot and you pay a fine that is way smaller than the value of your thievery.
Until damage compensation is addressed, the SEC is absolutely pointless and only exists to enrich themselves.
He almost sounds as dumb as JB.
A lot of name drops there.
We uuugghhhh hooooold uughhhh others accountable
I never noticed but GG has a pig nose…oink oink MF
If I could even win 2k id be delighted
limited resources yet wastes it on stupid youtube videos
Banks will drown you in paper work. With small government bullish it that GOP runs in order to reduce accountability of big cooperations, they are never going to have enough resources to go after banks
I called out precisely this in 2021, here: Citadel fined 22 million by the SEC to settle charges of misleading customers. What’s 22 mil for Citadel? [SEC fine Citadel 22 mil](https://www.reddit.com/r/wallstreetbets/comments/lc5mff/citadel_pays_sec_226_mil_to_settle_charges_of/?utm_source=share&utm_medium=ios_app&utm_name=iossmf)
He can close dark pools if he wants
If found guilty. Make it like a 20-year mandatory prison sentence for breaking the rules. Finance people can make so much money we should expect them to follow the rules in return. Has to go up the chain as well. You are the CEO of a bank you better make sure there are systems in place so that everyone follows the rules.
Accountability < Windfall profits. By a lot.
Every interview that I hear with Gary Gensler I somehow seem to hate him even more…
When John goes “right” you’re probably wrong.
I can’t hardly look at this guy. He looks half digested.
Get rid of dark pools.
U/savevideo
The only thing I got out of this conversation is that he admitted and 9 others that have been in charge of the SEC is that they have no resources and are not capable of doing anything to HF or banks witch they admitted to being worthless pointless and out of date with the times. So he is aging the SEC should be disbanded and a new agency to replace them that is more up to date and can handle the pressures of big business and markets.
Ya accountability isn’t enough mate. would you just fine a warlord you decimated part of your populace accountable with a few light fines?
“Within a judicial system… SET UP TO FUCK THE PEOPLE & save corporations” good point bald man
I get Jon’s point here…. but i also could not give a rat’s ass about celebrities either. They’re not above the law. GG should be going after the clear criminals though.
“Citadel Securities also has a knack for running afoul of the trading laws. It has been fined 58 times in the last few years for violating trading regulations, many about naked short selling”
Jon Stewart lol
Damn! John Stewart is dishing out tough interviews and kudos to Gensler for agreeing to be interviewed. But like others expressed in here, the fines have to be proportional not just to the degree of crime but the marketcap of the company especially if it is a publicly traded corp. Also, repeat non-retail offenders should be publicly shamed and fined more.
What bullshit, what about an entrepreneur in a startup that didn’t steal any money and just for the SEC saying that they felt he used false and misleading information received an 8-year prison sentence and a 5.8mm restitution order (which was really a fine in disguise)… while at the same time UBS steals billions through naked short selling and only gets a 3mm fine and no jail and continues doing the same thing as a normal business alongside every other bank…
What kills me he when he says what his job is, he leaves out the 1st primary purpose for public stock markets and that is: “TO ALLOW COMPANIES ACCESS TO INEXPENSIVE CAPITAL TO CREATE INNOVATION, NEW FOUND TAX REVENUES AND INNOVATION IN THE USA” -> WHAT A JOKER THIS GUY IS!!!