Where Was The SEC?

from the they-kept-their-distance dept

The sixth installment of the evildoings behind-the-scenes of IPOs asks where the SEC was during this whole mess. The fact is that everyone knew what was going on - but no one did anything about it. All the underwriters and investment banks were getting filthy stinking rich, and the SEC kept their distance. The SEC apparently likes to keep their distance and only get involved when there's some sort of "public outcry" such as after all the IPO mess is over, and people are suddenly finding themselves broke.