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pacific_beach t1_ivrs9i5 wrote

Just shut the SEC down and start over. They aren't protecting anyone.

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SoflaSF t1_ivrwxr7 wrote

you wouldn't believe the number of ponzi schemers there are in america - SEC does as a majority suck but it's a necessary evil that occasionally helps

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frizzykid t1_ivt5ece wrote

FTX falling because of liquidity issues and costing investors 10's of billions of dollars is a prime example of why the SEC exists to protect people. SEC isn't perfect and I'm sure there are many retail investors out there that hold a similar point of view, but FTX's collapse is quite literally a result of a lack of regulation to protect investors.

FTX would almost certainly be fine right now if they were regulated by the SEC which would have mandated they had adequate liquidity and could have prevented the "Bank run" that essentially happened.

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