By granting exemptions to laws and regulations that act as a deterrent to securities fraud, the S.E.C. has let financial giants like JPMorganChase, Goldman Sachs and Bank of America continue to have advantages reserved for the most dependable companies...

...By granting those waivers, the S.E.C. allowed Wall Street firms to have powerful advantages...

This has been going on for a decade.

Recently we've been coddling big banks as part of the clap-if-you-believe backdoor bailout policy.

Before that we did it for fun.