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Bon mots

"You can observe a lot just by watching." Yogi Berra

"We do not distain to borrow wit or wisdom from any man who is capable of lending us either." Henry Fielding, Tom Jones

"In our complex society the accountant's certificate and the lawyer's opinion can be instruments for inflicting pecuniary loss more potent than the chisel or the crowbar." United States v. Benjamin, 328 F.2d 854, 862 (2d Cir. 1964)

Enjoined Rep Barred

Phillip J. Milligan, Exchange Act Rel. 61790, March 26, 2010

Time since appeal–6 months 10 days
Time since last brief–2 months 7 days

This was a no brainer. Milligan had been criminally convicted and enjoined after taking $93,600 in secret payments from a promoter (bribes) to recommend a stock to his customers. His conviction was 12 years ago. The SEC's injunctive action was brought in 2009. Although one has to wonder why it took the SEC so long to bring both the injunctive action and this proceeding, the results are not surprising.