BEg2 Baedeker / captive regulator

[rich]

re: C) not sure if rubber stamp is the right term. The SEC is perpetually
underfunded and the market is way ahead of regulators in resources, talent
and, for lack of a better word, innovation. They are always playing catch
up.

rich

On Sat, Nov 20, 2021 at 2:58 PM Michael Bailey <michael.lee.bailey at gmail.com>
wrote:

> A) Pynchon seems to have done a Baedeker type sourcing thing with ACFE
> material - is what I was driving at & hoping somebody would know more about
> the specific financial things - which afaik aren’t all that widely known
>
> B) he seems to have taken an interest in ACFE to the point of lampooning
> their logo and having Maxine emote, albeit briefly, as intensely about her
> relationship with them as she ever does about her marriage. Maybe more so.
>
> C) while this stuff was there for trained eyes to see, the SEC was and
> remains a somewhat captive regulator, rubber stamping all but the most
> egregious abuses - & sometimes even rubber stamping those (eg Madoff)
> --
> Pynchon-L: https://waste.org/mailman/listinfo/pynchon-l
>