The SEC Is No Longer Subject To FOIA

Unf'ingbelievable. Or, as some crazy ranting guy I saw on Youtube said, "is it possible to be astonished but not surprised?" The hope and change that The Borg - I mean Administration - promised to bring forth continues to be oppression of freedom and strengthening of government control of your lives.

This article highlights how the new FinReg legislation has a brief, well hidden section that basically attempts to put the SEC above the law (fortunately, I don't think it is constitutional). It's ironic for our cheif enforcer of corporate governance to have used backroom agreements to institute horrible governance itself. Link to article.

Southeastern Asset Management's Mason Hawkins Levels High Frequency Trading

Southeastern Asset Management, the manager of the legendary Longleaf family of mutual funds, put together a scathing analysis of high frequency trading (HFT), debunking the myth of its "benefits" to market participants. This was assembled and presented by Southeastern founder O. Mason Hawkins and his team for and to Luis Angular of the SEC.

Must read.

2010-06 Southeastern to SEC Re HFT
[HT: Black Ball]