DOJ and Treasury Schooled by College Athletes

By: Saturday August 9, 2014 9:00 am

First it was former Northwestern University quarterback Kain Coulter and his football teammates taking a chunk out of the NCAA, and yesterday it was former UCLA basketball player Ed O’Bannon and 19 other former college players. They did what few thought possible in going after a Too Big to Challenge institution, and won.

You know, the president is a sports-loving guy. Imagine what would happen if he called the attention of the DOJ and Treasury to these college athletes: “This is how you go after Too Big To Challenge institutions.” . . .

 

Ernst & Young Pays $4 Million to SEC for Illegally Lobbying Congress

By: Thursday July 17, 2014 1:28 pm

Ernst & Young, one the largest and most prestigious accounting firms in the country, has agreed to pay the SEC $4 million to settle charges of illegally lobbying Congress. Though in the institutional role of independent auditor, Ernst & Young employees lobbied congressional staff on behalf of two of their clients providing “prohibited legislative advisory services.”

Chris Christie Administration Facing Inquiry Over Actions On Second Bridge

By: Tuesday June 24, 2014 12:05 pm

While New Jersey Governor Chris Christie is already shoulder deep in the investigation of illegal lane closures on the George Washington Bridge, another scandal is growing over a second bridge under his authority – the Pulaski Skyway. The Pulaski Skyway is an elevated roadway that connects the New Jersey cities of Newark and Jersey City and, according to the New York Times, is the subject of an inquiry by the Manhattan district attorney and the Securities and Exchange Commission.

Credit Suisse Pleads Guilty To Conspiring To Aid Tax Evasion

By: Tuesday May 20, 2014 12:10 pm

It has finally happened, a Wall Street firm has pleaded guilty to a felony. Credit Suisse, to address criminal activity that occurred for decades, pleaded guilty to one count of conspiring to aid tax evasion. The firm will also pay a fine of $2.6 billion and have an independent monitor for two years.

SEC Official: Over Half of All Private Equity Audits Revealed Crimes

By: Friday May 9, 2014 2:30 pm

If you needed yet another example of Wall Street’s culture of corruption here it is – an SEC official has claimed that more than 50 percent of audits of private equity firms revealed “serious infractions of securities laws.” Yes, more than 50 percent.

SEC Was Colluding With Banks On CDO Prosecutions

By: Monday April 14, 2014 12:05 pm

A story by The American Lawyer seems to provide serious evidence that the SEC essentially planned to ensure that Wall Street firms would never be held fully accountable for their crimes. That there was collusion between the banksters and the SEC that CDO prosecutions would be limited in number and impact.

Retiring SEC Attorney Says Agency Fails To Hold Powerful Accountable

By: Wednesday April 9, 2014 6:52 am

A longtime trial attorney for the SEC had some brutal parting shots for the agency. Given as remarks at a goodbye party the attorney, James Kidney, condemned the SEC for letting the larger Wall Street firms get away with crimes. Essentially claiming that the SEC never went after the powerful.

SEC Opposes Cunning Effort of Corporations to Deprive Whistleblowers of Protection

By: Thursday February 20, 2014 4:58 pm

The Securities and Exchange Commission has gotten involved in a whistleblower lawsuit against Siemens by a former employee. The lawsuit is being brought under the anti-retaliation provision of the Dodd-Frank Act.

How dare you filthy peasants know…

By: Monday October 21, 2013 1:30 am

Pretty much, oh 99 percent, of the country knows that the pay ratio of corporate CEOs to their workers is obscene.

But to the CEOs the real obscenity is that people know just how obscene.

Rest easy America

By: Tuesday October 1, 2013 1:30 am

In case America’s drunkest legislature insists on shutting down the Federal Government the most important of its agencies will remain as vigilant as ever.

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