Occupy the SEC - the Occupy suits take on the Wall Street suits

a superb use of some of the higher-level talent in the occupy ranks...

To attempt to oversee the unwieldy bloated tyrants, Congress passed 848 pages of financial reform legislation in 2010. But it was so difficult to comprehend that to implement just one piece of it, the Securities and Exchange Commission (SEC) together with the Federal Deposit Insurance Corporation, the Federal Reserve Board, and the Office of the Comptroller of the Currency filed a 530-page public proposal seeking comment on how the legislation might impact the markets. The deadline for those comments came last week.

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Hoping to derail the derailers is a new SEC sheriff: Occupy the SEC, a spinoff of Occupy Wall Street. Going forward, it will be tougher for right-wing corporate media to spin the Occupy movement as smelly hippie radicals desperate for a cause; any cause. Last week, Wall Street spin doctors just got chewed up in the spin cycle and hung out to dry with Occupy the SEC’s filing of a mesmerizing 325-page treatise on redesigning Wall Street to meet the Nation’s needs rather than its perpetuation as a wealth extraction scheme by lawyered up 1 percenters. (The number of lawyers providing public comment was exceeded only by Wall Street firms.)

Far removed from the unstructured demands of the overall Occupy movement, the 325-page tome is precise, hard hitting and essentially nails the core corrupting elements of the current system and lays out what must change. It shows an uncanny insider’s grasp of the minutiae in the Dodd-Frank financial reform legislation. And, it is more than 171 pages longer than the collective rant of Wall Street’s own sycophant trade groups, the Securities Industry and Financial Markets Association (SIFMA), American Bankers Association, the Financial Services Roundtable, and the Clearing House Association. The trade group letter called the proposal “absurd” and lectured the regulators that they should first “do no harm.” There is striking and arrogant amnesia in this letter regarding the staggering harm done to this Nation by their constituents.

it takes brainy, experienced people to take on brainy experienced vermin...

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