Below is a reproduction of the main portion of the opening page of a Web site that I visit quite often.
“Attend the SEC Seniors Summit on Sept. 22
The SEC is holding a Seniors Summit on Monday, Sept. 22 to help educate older investors and their families on the dangers of senior fraud, and to offer investment advisers or brokers a series of best practices to use when serving senior citizens. more...
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• Morning Session for Senior Investors – Will present tips and information to help senior investors ensure their money is protected and used as desired after they retire or in the event of illness or diminished capacity. Agenda
• Afternoon Session for Financial Services Professionals – Will unveil new practices that firms use when advising senior investors, including those with diminishing capacity. Agenda
SEC Clarification on Accounting Relating to Bank Support for Money Market Mutual Funds SEC Issues New Rules to Protect Investors Against Naked Short Selling Abuses
Statement Regarding Recent Market Events and Lehman Brothers”
The site is www.SEC.gov and when I opened it last week, I was shocked. What bothered me with all the uncertainty going on the financial marketplace, the SEC home page gives so much space to a seniors summit, and only when you scroll down do you hit, under the totally inappropriately named “Other News,” the more relevant information to the SEC’s greater and more important concerns, and then with only a line on each. I guess the main news last week from the SEC’s viewpoint was that summit.
I am sure there would be a explanation from the SEC if I were to ask them why it was presented in this manner. But I am not going to ask, because I know how busy it must be there right now. Suffice it to say to the powers that be that the problem is what has become acceptable there, and in the financial marketplace, and what now constitutes “business as usual.”
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