SEC worst favored Government Agency

8 06 2009

People are frustrated with the government.   Bailout money, increased national debt, tax hikes, wire-tapping, torture, all give people a reason to be upset at the government.  Of all the government agencies, which should be the worst rated, FBI? CIA, IRS?  No, among all the agencies in the alphabet soup of government agencies, the letters  SEC draw the most ire.  An interesting article on Investment News‘s website:

Among six large government agencies, the Securities and Exchange Commission ranked dead last on the likeability scale with the public, with even the Internal Revenue Service coming in ahead….

Fifty-five percent of the respondents in the telephone survey had an unfavorable view of the SEC, compared to 43% for the IRS, according to the survey, which was conducted in April for Persuasion Strategies, a service of Denver law firm Holland & Hart LLP.

Why the SEC?  Well they are damned if they do, and they are damned if they don’t.  Lack of government oversight has been largely blamed for the nation’s current economic crisis.  This is no more true than in the regulation of financial markets.  On the other hand, others are lead to believe that government interference in markets only have the affect of prolonging economic problems.   To top it all off, the SEC has received a lot of bad press lately, summed up in one word, Madoff.  Of course Madoff is not the only source of SEC problems.  The silver lining in the status of the SEC is that, as the article points out, at least the people under investigation by the SEC are less popular than the SEC itself.

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