A plaque remaining from the Big Apple Night Club at West 135th Street and Seventh Avenue in Harlem.

Above, a 1934 plaque from the Big Apple Night Club at West 135th Street and Seventh Avenue in Harlem. Discarded as trash in 2006.

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Entry from October 04, 2018
Shortseller Enrichment Commission (Securities and Exchange Commission or SEC nickname)

The U.S. Securities and Exchange Commission (SEC) settled a fraud case in 2018 against business magnate and investor Elon Musk. Musk’s automotive and energy company, Tesla, Inc., went down in value, and Musk tweeted on October 4, 2018:

“Just want to (say—ed.) that the Shortseller Enrichment Commission is doing incredible work. And the name change is so on point!”

The SEC nickname had been used a few days earlier. “SEC stands for Short-seller Enrichment Commission, right?” was posted on Twitter by Menelaus on September 28, 2018.

Another SEC nickname is Mark Cuban’s “Swiftly Enhanced Careers.”


Wikipedia: U. S. Securities and Exchange Commission
The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government. The SEC holds primary responsibility for enforcing the federal securities laws, proposing securities rules, and regulating the securities industry, the nation’s stock and options exchanges, and other activities and organizations, including the electronic securities markets in the United States.

In addition to the Securities Exchange Act of 1934, which created it, the SEC enforces the Securities Act of 1933, the Trust Indenture Act of 1939, the Investment Company Act of 1940, the Investment Advisers Act of 1940, the Sarbanes–Oxley Act of 2002, and other statutes.

Wikipedia: Elon Musk
Elon Reeve Musk FRS (/ˈiːlɒn/; born June 28, 1971) is a business magnate and investor. He holds South African, Canadian, and U.S. citizenship and is the founder, CEO, and lead designer of SpaceX; co-founder, CEO, and product architect of Tesla, Inc.; co-founder and CEO of Neuralink; and co-founder of PayPal.

Twitter
Menelaus
@TheAdaptedMind
“Incredible, so essentially the SEC wanted to implement the kind of nonsensical coup of ‘independent’ directors that shorts tried…
Who dictated the settlement terms to the SEC - was it Chanos, Spiegel or Left?
SEC stands for Short-seller Enrichment Commission, right?”
$TSLA
9:59 AM - 28 Sep 2018

Twitter
Elon Musk
@elonmusk
Just want to that the Shortseller Enrichment Commission is doing incredible work. And the name change is so on point!
4:16 PM - 4 Oct 2018

NBC News
Elon Musk taunts SEC as ‘Shortseller Enrichment Commission’
Musk lashed out at the enforcement agency, praising the “incredible work” of the “Shortseller Enrichment Commission.”

by David Ingram / Oct.04.2018 / 4:36 PM EDT
Another tweet from billionaire tech entrepreneur Elon Musk might get the attention of the Securities and Exchange Commission — this time on purpose.

Musk on Thursday lashed out at the enforcement agency, praising the “incredible work” of the “Shortseller Enrichment Commission” days after reaching a proposed settlement with the SEC over a series of tweets that Musk sent in August.

Washington (DC) Examiner
Elon Musk derides SEC as ‘Shortseller Enrichment Commission’
by James Langford
October 04, 2018 05:05 PM
(...)
Just days after the agency reached a settlement with the founder of electric carmaker Tesla that allowed Musk to remain as chief executive officer, the outspoken inventor took to the social media platform to mock the regulator as the “Shortseller Enrichment Commission.”
(...)
Short-sellers, or investors who make bets that company’s stock price will decline, have long been a source of irritation for the 47-year-old billionaire, and they stood to make a tidy profit when Tesla’s stock tumbled in the wake of the SEC’s complaint alleging Musk hadn’t secured the financing he claimed for a $420-a-share buyout offer.

Twitter
Andy Raddant
@AndyRaddant
Elon Musk tweeted calling the SEC the “Shortseller Enrichment Commission”. Tesla stock has dropped over 6% on the day.
#3500EDGERYAN
6:13 PM - 4 Oct 2018

Posted by Barry Popik
New York CityBanking/Finance/Insurance • Thursday, October 04, 2018 • Permalink