We are experiencing technical difficulties, and until they are resolved, I am limited to just a few sentences.
At a time when the SEC is losing top brass more often than Paris Hilton is failing Breathalyzers, Patrick's first installment in his series on the markets and captured regulators is particularly poignant. He addresses the corrupted market cops, the talentless hacks in the NY financial press whose penchant for toeing the Wall Street line exposes them as nothing more than fluffers for their hedge fund puppetmasters, the structural deficiencies in the market system, and the historical basis for our understanding that bad things this way come.
Which raises the question, are NY financial journalists cheaper by the dozen, or is there a graduated pay schedule? Couple hundred bucks for a Fool slam, $50K for 3 months of slander in a major? Do some rate anonymous ATM cards linked to offshore accounts, or is it as mundane as letting the dolt win a few big hands at the weekly poker game so he can afford more groceries and an oil change?
But I digress.
It's a must read. Disseminate it wherever you think it will get the most visibility. There is no way to claim ignorance after reading this.
Thanks, Patrick.