How to Make the SEC Even Worse

Another brilliant idea from Mary Schapiro

In Portfolio.com today I have a suggestion on how to make the SEC even worse than it is: merge it with the Commodities Futures Trading Commission.

The idea is backed by the SEC's wretched chairman, Mary Schapiro, and by former chairman Artie Levitt. With these two geniuses favoring the move, how can it go right?

Levitt, of course, was the one who helped Alan Greenspan and his other pals sabotage the CFTC's effort to regulate OTC derivatives in the late 1990s. He has now graduated to become a consultant to Goldman Sachs. The man has no shame.

© 2010 Gary Weiss. All rights reserved.