I even offered to do the cost-benefit analysis for free. But she confessed that the SEC had many other items on its agenda, and had placed the issue on the back burner – a polite way to say that the SEC, like the heroic students in Tiananmen Square, had surrendered under irresistible pressure.
SEC并没有提供成本-效益分析并重新实施该规则，而是选择拖延，这就让股东所取得的小胜利变成了大溃败。在去年12月的一次会议中，我询问SEC主席夏皮罗（Mary Schapiro），她的手下准备何时重新实施该规则。我甚至表示可以免费帮他们做成本-效益分析。但她表示SEC有很多事情要做，此事得先等一等——这无异于委婉地表示SEC像当年在天安门广场上请愿的学生那样，已经屈服于不可抵挡的压力了。