SEC "All Over It"

Here is a Swiss Banker dumbfounded he could be taken...

Arpad ‘Arki’ Busson, chairman and founder of Swiss investment firm EIM SA.

“I knew the SEC was all over this shop. As a broker-dealer, you file quarterly statements,” he said. “The main reason we got comfort is that it was SEC-regulated, and it was doing 10 percent of the volume on the New York Stock Exchange and Nasdaq.”

How is it this sophisticated Swiss banker did not know the system is rigged, but I did? I guess it is just survivorship bias.

I do not believe this is limited to just banks and wall street, this rot is in academia, labor, religion, manufacturing, naturally politics, and in every other field. This is good to know, since one can adjust accordingly.

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