The Meb Faber Show · Friday, July 17, 2026
Carson Block criticized both the Biden/Gensler SEC for focusing on paperwork and compliance costs rather than substantive enforcement, and historically, Republicans for gutting agencies. He believes current agencies need to be torn down rather than fixed.
“So as a short seller, you do depend on institutions like the SEC and the DOJ to actually have substance.”
“But the problem is, so, you know, if you look politically, when the Democrats were in charge, you know, like we had the Biden and Gary Gensler, SEC, it's just all about this paperwork and burying everybody under like little rules and people at the SEC would wake up every morning and like ask which dialect I can turn and switch I can flip and it was not substantive enforcement.”
“Then historically, the Republicans have taken the view that hey, you know, we want to like, not banish but like they're very opposed to that sort of enforcement, but they kind of tend to just gut the agencies anyway.”
“They do have to be torn down.”