The SEC wants companies to report earnings half as often

The SEC just proposed letting companies report earnings twice a year instead of four times. SEC chair Paul Atkins is calling it 'flexibility.' [pause] You know who else loves this? Jamie Dimon. Warren Buffett. The people who run the money. The people whose bad decisions you currently find out about every three months. [pause] Atkins literally named this his 'Make IPOs Great Again agenda.' Out loud. In public. [pause] The argument is it reduces short-term pressure on executives. Which is a great argument if you think the problem with corporate America is that executives face too much accountability. Critics put it straight: the agency supposed to protect investors is making it harder for investors to get the information they need. [pause] Less disclosure. Fewer chances to know what they're doing with your money. [chuckles] But sure. Flexibility.