I periodically get emails from readers asking me if I’m still investing and the truth remains:  Until government meddling stops and we have a complete AND stable “rulebook” not subject to whims and changes from Administration officials, I am sitting on cash and the investments I have now.   I am not investing any more money in any way shape or form (no 401k contributions, no IRA, no cash increases to any brokerage accounts).

Unfortunately, Bloomberg is reporting that the administration plans on stripping the SEC of some powers and handing them over to the Fed.   While I don’t care about the policy changes they will ultimately have an impact on the stock market and investors perception of an ever changing rulebook.

Imagine if you and I sat down to a poker game and during the course of the game, I decided that deuces would be wild and a few moments later, I stated that you could only cash out your green chips and not any color for the next hour.   After that, imagine if I said any disputes that arise during game play would be settled by my Uncle Bob in Seattle.   Imagine that I change the dispute resolution from Uncle Bob to Aunt Donna in Phoenix a few moments after that and then imagine that I changed deuces wild to One eyed jacks wild.   Would you continue to sit at the table and play in this scenario?  Does this make any sense to you?

Well neither does this:

The Obama administration may call for stripping the Securities and Exchange Commission of some of its powers under a regulatory reorganization that could be unveiled as soon as next week, people familiar with the matter said.

The proposal, still being drafted, is likely to give the Federal Reserve more authority to supervise financial firms deemed too big to fail. The Fed may inherit some SEC functions, with others going to other agencies, the people said. On the table: giving oversight of mutual funds to a bank regulator or a new agency to police consumer-finance products, two people said.

Wall Street has always been a casino but it feels like the regulatory agencies are the roulette wheel (instead of investments) and where ever the marble lands determines which agency gets to make decisions and rules until the next game play.

Who knows what the next few weeks will bring…..certainly not my cash into the stock market.