The SEC and government regulation is just a ruse.

Recently the SEC was going to fine Bank of America for management's poor performance in communicating to shareholders the risk in purchasing Merrill Lynch. The SEC said it was acting so as to protect Bank of America Shareholders. A court struck down the action as fining the company would only add to the damage management had already inflicted on share holders. The SEC of coarse continues to keep its head stuck where the sun doesn't shine. The SEC doesn't have a clue.