Welp, today was Michael Piwowar’s last day of commissioning over at the Securities and Exchange Commission.
Piwo’s departure leaves the SEC as Jay Clayton and a merry band of three. It’s essentially a ghost town over there now, just the way that the Trump Administration dreamed it would be. And in a fun case of saying the quiet thing out loud, Piwowar tweeted a goodbye that makes it clear the SEC is now a defanged bureaucratic ghost ship with bad lighting…
— Michael Piwowar (@MichaelPiwowar) July 9, 2018
It’s all there; the horrific lighting, the sad office furniture, the clothes, and the fact that Piwowar apparently decided to end things before 9am on a Monday.
This tweet says a lot of things, but what it says with clarion clarity is that today is a great day to commit a financial crime.