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Reply #105: They were screaming about this when the SEC requested comments [View All]

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alcibiades_mystery Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-22-10 11:01 PM
Response to Reply #103
105. They were screaming about this when the SEC requested comments
Edited on Thu Jul-22-10 11:01 PM by alcibiades_mystery
for in-house rescission as early as last summer, and screaming since late last year after the SEC turned it over to Congress to give it more strength (i.e,. when somebody at SEC wisely decided that getting this sumbitch legislated rather than rule-made would be the more effective route, long-term). Now, the year-plus yelling about all this says one thing: their claim to be caught off guard is nonsense, and they probably don't deserve the six month "get-your-act-together" period. But it is not unusual to dispense phase-in periods for something this drastic, so I don't see it as some kind of delaying action. This is the new law. It is good policy. I'll leave you to your pessimism on its effectiveness, but the law is in effect, and they have a hockey season to get their people ready for accountable ratings production.
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