GOVEROTRAGEOUS: SEC, an incompetent regulator

SEC Incompetence
Posted by Mark A. Calabria

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But the porn charges are the least of the SEC’s worries. Also released was the IG’s report on the SEC’s failure to stop the Stanford Ponzi scheme. The report shows a clear pattern of incompetence at the SEC. Given the SEC’s failure to act on the Madoff scheme, and the repeated warnings about Stanford, one has to wonder how good SEC investogators are at discovering fraud if they don’t even pursue the clear-cut cases brought to them.

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Government is ALWAYS ineffective and inefficient.

This is a classic example of that.

So, why should we even have an SEC?

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MONEY: Rumors about the pot of trillions in IRAs and 401ks

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You’re going to have to pay taxes on those funds eventually anyway, and far better to snatch two-thirds or so of the prize away before it gets dumped into the general fund and is spent on housing for Hamas, the snail darter, uniforms for the Obama Youth, excruciatingly bad modern “art,” or more perquisites for Congress. Even half a loaf will be better than none…if you turn it quickly into objects of intrinsic value, such as gold, silver, diesel oil, and emergency rations.

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Another doomsday prediction about OBH44 with the congresscritters seizing the 401ks. Makes sense since all they have to do is strong arm all “the custodians”. Like Rooosevelt’s “bank holiday” and gold call in, one day you got and the next day you don’t. I’m no so sure that “cashing out” and paying the tax penalties is a smart strategy either. Sigh! One MIGHT consider NOT putting more into the 401ks or IRAs. If it does get seized, it’s going to be catastrophic to the market confidence. So the stock markets will be going south! So maybe cashing out is a good strategy. You lose either way. So maybe commodities that you can put in your “mad money” jar makes sense. 1 to 10% of your portfolio?

Once you decide to do that, I’d go for 1 ounce silver rounds. And, if you’re into the “band aids, beans, and bullets” philosophy, some bricks of 22’s will be a good commodity.

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FROM LUDDITE (Blame him; not me)

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A new sign in the Bank Lobby reads:

‘Please note that this Bank is installing new Drive-through ATM machines enabling customers to withdraw cash without leaving their vehicles. Customers using this new facility are requested to use the procedures outlined below when accessing their accounts. After months of careful research, MALE &FEMALE Procedures have been developed. Please follow the Appropriate steps for your gender.’

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1. Drive up to the cash machine.

2. Put down your car window.

3. Insert card into machine and enter PIN.

4. Enter amount of cash required and withdraw.

5. Retrieve card, cash and receipt..

6. Put window up.

7.. Drive off.


What is really funny is that most of this part is the Truth!

1. Drive up to cash machine.

2. Reverse and back up the required amount to align car window with the machine.

3. Set parking brake, put the window down.

4. Find handbag, remove all contents on to passenger seat to locate card.

5. Tell person on cell phone you will call them back and hang up..

6. Attempt to insert card into machine…

7.. Open car door to allow easier access to machine due to its excessive distance from the car.

8.. Insert card.

9. Re-insert card the right way.

10. Dig through handbag to find diary with your PIN written on the inside back page.

11. Enter PIN.

12. Press cancel and re-enter correct PIN.

13. Enter amount of cash required.

14. Check makeup in rear view mirror.

15. Retrieve cash and receipt…

16. Empty handbag again to locate wallet and place cash inside..

17. Write debit amount in check register and place receipt in back of checkbook.

18. Re-check makeup.

19. Drive forward 2 feet.

20. Reverse back to cash machine.

21. Retrieve card.

22. Re-empty hand bag, locate card holder, and place card into the slot provided!

23. Give dirty look to irate male driver waiting behind you.

24.. Restart stalled engine and pull off.

25. Redial person on cell phone..

26. Drive for 2 to 3 miles.   

27. Release Parking Brake.


AND TO THE LADIES who can handle it…. they need a laugh, too!

Remember this! A lady sent it to me.

She was laughing, too.

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Email complaints to Luddite (two d’s and one t) at reinke dot cc

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Categories FUN

INTERESTING: Temple restricts everyone’s free speech rights

Temple Student Group Placed on Probation for Inviting Me to Speak?
Greg Lukianoff is the president of the Foundation for Individual Rights in Education (FIRE).
Posted: April 14, 2010 04:24 PM

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A Temple University student group was notified this morning that it was on probation because of me. Apparently Temple just decided I am either so dangerous or so important that I need security for a lecture on campus tonight (I promise I am neither), but since the group sponsoring me did not request security, it is on probation effective immediately.

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What happened to “free speech”?

Temple University’s “about” page doesn’t say if it’s public or private. Regardless, it takes Federal funds so it’s a de facto Federal agent. Hence it can’t abridge free speech. So this “security fee”, and the flap over it, is chilling to the free speech rights of everyone.


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SERVICE: UofP blows it by not offering alumni email

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A message that you sent could not be delivered to one or more of
its recipients. The following addresses failed:
SMTP error from remote server in greeting:
550 Requested action not taken: mailbox unavailable.

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Interesting! University of Phoenix takes down email when it’s student’s graduate. How short sighted is that?

Obvious, even if I had to cut a deal with Google for Gmail to offer to all my alumni that’s a great marketing ploy.

Future sales. Referrals. References. Social networking. Free advertisign when folks use it. Alumni networking.

Boy, did they blow it.

They may have the next generation in the “education” model, but they still have old thinking at the top.

Traditional schools most flub it as well, but they’re dinosaurs so what would you expect!

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