Monday, June 7, 2010

Union blocks active use of Blackberrys for SEC

It is not a fair fight between the government and private business base don talent and focus. One of the key reasons for regulatory problems is the talent pool of regulators. The National Treasury Employees Union which represents SEC enforcement employees does not want lawyers in the SEC to have Blackberrys because they may be called after normal hours. However, in a special deal, the lawyers will get the Blackberrys but they can be turned off after normal hours and on week-ends.

If regulators do not respond to market events, how can thy stop bad things from happening. The markets are 24/7 and need regulation 24/7 not more regulation which may not be enforced.

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