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Breaking windows at the SEC

Bill Coffin | January 9, 2017

When I was a kid, while my dad was driving us through town, I spotted some graffiti on a city wall. It wasn’t a random tag of somebody’s name; it was a mural that featured some pretty nice artwork. But it was still graffiti, and it had still been painted on somebody’s property without their consent. And it was surrounded by a whole lot of other sprayed paint that wasn’t trying to express something artistic; it was just vulgar slogans and boasting. I saw the art. My dad saw the criminality. He told me to look around at the part of town through which we traveling. It was a mess. Boarded up buildings, neglected property, crime … the works. My father said that the graffiti was the start of it. Once a neighborhood accepts the presence of that, it soon begins to accept the presence of much worse things.

I thought of that as we look toward a new era in the history of the Securities and Exchange Commission. If all goes well for President-Elect Trump, his nomination to run the SEC... To get the full story, subscribe now.