In their mad dash in reacting to fraud, instead of preventing the bulk of transgressions, the SEC does lots of monetary damage. They tend to pick the average, uninformed investor’s pocketbook by causing unnecessary expense of legal fine-tooth-combing, printing and mailings.
And requires such action constantly, perhaps to a far greater extent than is necessary to alert an ordinarily informed investor.
Just one example: The expense of having banks, mutual funds and corporations send out useless, expensive, legalese financial literature, that the recipients do not read because they cannot understand the terms the SEC has the senders use.
The only ones who can profit are the lawyers. If a dot or letter t isn’t properly crossed or is missing, the lawyers will sue the senders of that hard-to- read and also comprehend mailings. Again, at the expense of the poor mail recipients wh never benefit from the impractical information anyway. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole tweets.)
No comments:
Post a Comment