SEC Targets Stock Spammers

Usually when I write a post that talks about our tax dollars at work it deals with government stupidly spending (wasting) money. Here’s one that’s different. The Securities and Exchange Commission announced today that they were suspending trading on the securities of 35 companies that have been using spam email campaigns as a way of recruiting business. “Operation Spamalot” (somewhere the Monty Python boys are laughing) aims to protect investors from fraud.

"When spam clogs our mailboxes, it's annoying. When it rips off investors, it's illegal and destructive," said SEC Chairman Christopher Cox. "Today's trading suspensions, and actions that will follow, should send a clear message to spammers: the SEC will hold you accountable."

It is about time. Go get the bastards, I say.