The Securities and Exchange Commission (SEC) is the best and most visible example of how the U.S. Government leads the American people into a false sense of security.
The SEC states their mission as: “The mission of the U.S. Securities and Exchange Commission is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation”. The proof of their failure is the current state of the economy with so many corrupt organizations.
Millions of Americans have believed the Government was protecting their financial resources and that the SEC was the governing body responsible for making sure their investments were in the hands of qualified, competent company’s. Today we know how miss-placed our confidence was.
The SEC’s financial statements (source 3) show nearly $1 BILLION spent and only 3,798 employees, we – the taxpayers – are paying the employee’s of the SEC $263,000 annually to lie to us.
| Enforce compliance with federal securities laws | $ 595,327,000 |
| Promote healthy capital markets through an effective and flexible regulatory environment | $102,822,000 |
| Foster informed investment decision making | $133,487,000 |
| Maximize the use of SEC resources | $99,267,000 |
| Total Gross Program Cost | $930,903,000 |
| Net (Income) from Operations | $(25,414,000) |
For those of you who believe capitalism and no regulations was the cause of the current financial chaos, ask yourself this question: “Why are paying 3,700 people over a quarter million dollars per year to regulate the financial markets when their performance is abysmal?
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