The SEC didn't know what a security was in the last administration. We don't need a govt agency patrolling the market. If people want to buy scamcoins and other frauds, that's on them for not doing their research. If the scammers break contract law, prosecute them.
Discussion
Who do you think is gonna bail companies and markets out when they file for bankruptcy? Taxpayers. The same taxpayers who are paying the salaries and budgets of the SEC.
How about no one bails them out? How about they just die as they should?
When the house of cards collapses? No one dies. Taxpayers foot the bill.
Free markets don’t exist when losses are socialized, and profits stay private until you watch it on Netflix 20years after.
I meant the companies should just die with no bailouts like Enron or Lehman Brothers. But adding government oversight for a problem it created is not a solution.