The U.S. Securities and Exchange Commission’s Michael Piwowar called an umbrella group of financial regulators a “vast left-wing conspiracy to hinder capital formation.”
The Financial Stability Oversight Council’s initials really stand for “Firing Squad on Capitalism,” Piwowar, 46, said yesterday in a speech at the American Enterprise Institute in Washington. He called the FSOC “The Bully Pulpit of Failed Prudential Regulators” and “The Dodd-Frank Politburo,” adding that his opinions are his own and that the pejoratives are “entirely accurate.”
