This edifying/depressing podcast explains Naked Short Selling and shows Wall Street’s top regulator to be not “all that interested in regulating anything.” The full episode is called “Enforcers”, produced by This American Life radio show’s Alex Blumberg.
It starts with two groups of enforcers who have no legal authority: hockey players who elect to keep others in line, and internet vigilantes who take merciless vengeance on Nigerian scammers. In Act Two, titled “Now you SEC me, Now You Don’t”, we observe a legal enforcer, Chairman Christopher Cox of the U.S. Securities and Exchange Commission, turning away from Congressional offers for greater official authority to act. You may want to get a box of tissues before downloading the radio program from This American Life, reported by Alex Blumberg.
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