New York Post: Gary Gensler turned the SEC into a banana republic

Article reading time:
2 minutes.

The authors of the New York Post awarded the chairman of the US Securities and Exchange Commission the status of “the head of a banana republic who has earned a place in the Hall of Fame of US clerical dictators.”

SEC head Gary Gensler is actively trying on “the uniform of the top cop on Wall Street,” New York journalists write.

Under the leadership of this man, the Commission is readyturn every oversight and prosaic case into the events of the century, but at the same time the head of the SEC chooses to ignore real “malfeasance that cost generations of wealth to small investors.” For example, the apparent pumps and dumps that have occurred in some meme stocks.

"When they talk to you about a banana republic, youimagine corrupt dictators somewhere far away, where the people in power control the economy and imprison their political opponents. However, there are places like this right here in the good old States. SEC Chairman Gary Gensler has practically turned the SEC into the equivalent of a banana republic. He regulates the cryptocurrency market through coercive methods, and also seeks to force large companies to expand the disclosure of their information beyond the financial sphere,” write New York Post journalists.

The New York Post states:First of all, those market participants who dared to openly criticize the methods of Gensler’s leadership in his post fall under the administrative skating rink. Unfortunately, the publication notes, following the SEC, other supervisory agencies are also showing their intention to suppress any beginnings of dissent.

Gary Gensler previously spoke
with a report on the department’s policy in the field of crypto regulation before the Banking Committee of the US Senate, where he received the approval of senators.