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The SEC is the "law office" for Big Banks. They do the bidding of the Big Banks.

They were told years in advance about Maddof's ponzi operation and did zero, but show up to paint chalk lines around the bodies after the inevitable happened.

As for crypto, it's mostly Fear, Uncertainty and Doubt, to slow innovation so the Big Bank masters have time to catch up. And of course battlespace prep to clean out the competitors and leave everything wide open for these same "Masters of the Universe". Case in point is the BTC ETF's. I was involved in one of the early ones. Attys told us there is no reason not to approve it, it's completely legal, but must have SEC blessing to get listed. What happened? After four years, they approved all the Big Bank products and this one is left in the dust.

Another example is naked short selling. This is counterfeiting of securities and the SEC has been notified many times about this and chose to do nothing. It's a technique they use to destroy publicly traded companies with impossible shorting, due to unlimited supply of counterfeit securities.

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