Word: fiendish
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Dates: during 2010-2019
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Today’s SEC is too political and a fiendish meritocracy. Underpaid and undereducated, the SEC staff and enforcement personnel must bring home the bacon to headquarters, or their jobs are on the line. (Was Shapiro’s deciding vote against Goldman intended to make up for her sin of oversight with Madoff?) The SEC staff, like the traffic cop at the end of the month, must meet a quota for writing tickets—or, in effect, they must find some dirt on the companies they examine, whether it’s there...