The Securities and Exchange Commission has been cast as inept or even villainous for its role during the financial crisis. So now the financial regulatory agency is trying to better explain what it does. And its doing it on Twitter.
“In real ways, the SEC has not been where investors most need it,” Schapiro told a gathering of business journalists yesterday. “I’ve let it be known far and wide that things must change.”
It’s not winning everyone over. Bess Levin of DealBreaker worries that the SEC is concentrating too much on remaking its image rather than improving its actual performance. In her inimitable style Miss Levin writes: “Bitches, please. How about first you figure out how to read reports entitled ‘So and So Is A Massive Ponzi Scheme’ before offering up links to press releases and sharing that Mar-Schap is ‘out for drinks with Ruthie!'”