Bush canned his SEC Chairman, Wm. Donaldson, because he was doing his job

[MrScorpio]

By going after the Corporo-crooks

The guy was a lifelong Republican

And he was doing what he was charged to do because his predecessor was a weak sister that let the crooks get away with financial murder.

Follow the money, baby

[BlueEyedSon]

1. Just like Paul Oneill

[napi21]

2. I heard Shrub was getting lots of complaints from his Corp

buddies that there were way too many restrictions and it was hurting their business!

I wonder if his dismissal was part of the cause for the drop in stock prices yesterday?

[MrScorpio]

3. I wouldn't be surprised

Think about the stockholders who would rather have a strong watchdog protecting their investments from all the crooks out there.

And Bush put that watchdog to sleep.

The reaction is pretty much predictable.

[corbett]

5. Senator Sarbanes Must Have Predicted This

Indeed, I was surprised at how well the SEC ran of late - a notch better than under Clinton.

[KharmaTrain]

4. The Game Goes On...

I can't tell you how many SEC "Commissioners" I've seen over the years (and I'm gonna say Democrats as well), who sit on the board for a couple years and when something comes up that they have to act, they investigate and then resign before that investigation is completed.

Of course this sets the ball back months or years and allows the corporations to divest or play other games so when a government ruling does come down (which is like a snowball's chance in hell theae days) or the indictments are handed down, the spoils have been nutted far away.

The fact this commission is loaded with politicians and Wall Street types automatically compromises its very concept. These people act reflectively to their best interests...doing what's best for their careers or portfolios before they really enforce laws or punish offenders in a way to discourage market manipulation and fraud.

I'll never forget a case about a decade ago where the SEC was called in to investigate violations with a major communications company that was price fixing and other monopolisitic practices. After months and months of sabre rattling, the SEC finally announced an investigation. The company complied by sending several 18-wheelers loaded with documents to the SEC to address the complaint. The investigation was never heard from again.