We are so hosed
One of the few things that kept the American system working was the fact that the SEC was a total bastard. By being impartial and strict the SEC kept the stock market functional. Even the worst Wall Street manipulators went out of there way to avoid triggering the SEC.
Without a strict SEC to oversee things people will try an make money in the stock market by manipulating the market and deceiving the investors rather then actualling doing physical work. We already have a huge problem in this regards, a weaker SEC is just going to open the flood gate for Enron style disasters.
Jay
