(20–3) The SEC attempts to protect investors who are purchasing newly issued securities by making sure that the information put out by a company and its investment banks is correct and is not misleading. However, the SEC does not provide an opinion about the real value of the securities; hence an investor might pay too much for some new stock and consequently lose heavily. Do you think the SEC should, as a part of every 818 Part 8: Tactical Financing Decisions new stock or bond offering, render an opinion to investors on the proper value of the securities being offered? Explain.