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Tollbooth on the Bankster Turnpike: Ripping the SEC


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Tollbooth on the Bankster Turnpike: Ripping the SEC

Abby Zimet

In a great barnburner of a retirement speech after 25 years at the SEC, James Kidney blasted the supposedly regulatory agency for having no interest in “afflicting the comfortable and powerful” - for "picking on the little guys, the weak and dubious targets" while allowing Goldman Sachs and other Wall Street shysters to get away with pretty much everything. Citing the missing concepts of integrity and "kindness," Kidney charged timid bosses, there merely to "punch their ticket" through a revolving door to Wall Street, with spending millions "promoting even our emptiest achievements" using bogus numbers that are "a cancer."

"The SEC has become “an agency that polices the broken windows on the street level and rarely goes to the penthouse floors...For the powerful, we are at most a tollbooth on the bankster turnpike.”