The SEC Absolutely Has Its Priorities Straight: Psychics are the Real Threat

Friday, March 05, 2010 , , , 0 Comments



I didn't say he's not a hack, I'm just saying perhaps the SEC needs to re-evaluate its ability to prioritize. You know it's bad when the NYT implies you're so pathetic your actions have become satire.

NYT:

He calls himself “America’s Prophet,” a psychic, trained by Nepalese monks in the art of time travel, who can foretell the future of the stock market.

But to the authorities, Sean David Morton is simply a fraud — and a really, really bad psychic.

In a case that seems ripped from the pages of the satirical newspaper The Onion, the Securities and Exchange Commission sued Mr. Morton for securities fraud on Thursday, claiming he swindled more than $6 million from investors by promising them “piles of money,” along with spiritual happiness.

“I have called ALL the highs and lows of the market giving EXACT DATES for rises and crashes over the last 14 years,” Mr. Morton claimed at one point, according to the documents filed in connection with the case.

I see a settlement in this guy's future. Meanwhile, the SEC's life line is short and broken, signaling conflict and, well, probably losing your precious regulatory duties if you keep this up...

If someone chooses to invest with a financial psychic, that investor does not need your protection, they need education. That's not your problem, SEC. Or are you confused again?

Where ya been, darlin? We've been holding this moment for you...

Jr Deputy Accountant

Some say he’s half man half fish, others say he’s more of a seventy/thirty split. Either way he’s a fishy bastard.

0 comments: