DB2
3 Likes
They got to burn the last few cartridges they have.
The Captain
2 Likes
I don’t understand the objection to what the SEC is doing here. There has long been a very clear law* - one that most every other entity follows with regularity - that once you acquire a certain percentage of a publicly traded company, you must disclose such within 10 days. He failed to do that. The SEC has gone after others that have also failed to do so.
*Rule 13d-1 dates back to 1934.
1 Like
Very clear and yet it took them two years to figure it out. Or did it take them two years to realize it?
DB2
2 Likes
In a post on X after the complaint was filed, Musk called the SEC a “totally broken organization” that’s focusing “on s— like this when there are so many actual crimes that go unpunished.”
By definition, a crime is not a crime when it is committed by one of the ultra-connected, right?
4 Likes
Of course. That is when things become “intrusive, burdensome, big gummit regulation, that kills jobs”. The mind boggles at the amount of “freeedom” the political hacks being put in charge of administrative departments will grant to the “JCs”.
Steve
Likely neither. It probably is not the highest priority of cases they are working.
Regardless, is your objection now that they should have charged him sooner?
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Like the removal of Cuba from the “state sponsor of terrorism” list last week, the SEC action was probably delayed so that TFG can reverse it, before anything is actually done.
Steve
???
How is TFG going to reverse it? You think he is going to tell the SEC drop the case? And, what possible motive would the current SEC have in delaying with the intent to have it tossed out a week later?
Nothing about that makes sense.
- TFG had promised to fire Gensler “on day one”
- Gensler is now resigining
- TFG has also stressed his deep regret over not always choosing the utmost loyal (=to him, personally, rather than to flimsy concepts like a constitution) person for positions in the past
Could it be that a suitably vetted new guy merely knows what is expected?
Consider the track record wrt Cuba: O-man took Cuba off the “terror” list. TFG put Cuba back on. Why did TCG wait four years, until days before leaving office, to take Cuba off again? TFG will surely put Cuba back on.
The decision is likely to be reversed by the incoming Trump administration. Sen. Marco Rubio, President-elect Donald Trump’s pick for secretary of state whose family fled Cuba in the 1950s, supports strong sanctions on Havana’s Communist regime.
We are seeing the same sort of back and forth in Michigan. The prior Gov signed a “right to work” law into effect, after saying during the campaign that he would not. The current Gov repealed it. The former Gov reengaged in politics to push for repeal of the current Gov’s repeal.
Steve
1 Like
That doesn’t mean that existing cases necessarily stop. That is not how the SEC works.
I would be shocked if the SEC drops this case simply because there is a new head honcho. Such selective preferential treatment of an existing case would seem to be grounds for hearings and potential impeachment (yes, I know that we would not see such from the current Congress).
Your attempt to conflate this with Cuba strains credulity.
I am pointing out the trend in recent years, of trying to undo everything the previous administration did, if for no other reason than spite.
Steve