SEC Chief to Wall Street: The Everything Crackdown Is Coming

The joke in Washington is that Gary Gensler could inspire his own version of the game, “Drink Every Time...”

The rules: Down a shot every time the U.S. Securities and Exchange Commission chief says he’s “asked the staff” to consider new regulations.

Gensler has “asked the staff” about oversight for crypto -- drink. For online brokers -- drink. For green investment funds -- drink. During two recent congressional hearings, Gensler used the phrase no fewer than 30 times, enough, one lobbyist quipped, to induce alcohol poisoning.

Gary Gensler

Photographer: Melissa Lyttle/Bloomberg

But for Wall Street, Gensler’s plans are hardly something to laugh about. ...