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.

JPMorgan Pays Small Fine for Lying to Regulators and Manipulating Market

By: Thursday September 19, 2013 11:20 am

After lying to regulators, manipulating the market, and putting out fraudulent documents JPMorgan will pay a relatively small fine and move on. Because when the powerful repeatedly break the law the consequences are never very severe. If we stopped these Wall Street banksters from making criminal profits they might stop making criminal profits – then where would our economy be?

Financial Crisis Cases Ending as SEC Struggles With Reputation

By: Thursday September 12, 2013 11:55 am

It has now been 5 years since Wall Street crashed the economy through its pump and dump mortgage derivative scheme. Few of the bad actors have been held accountable and none of the big ones. The public understands the reality – that Wall Street got away with it. Actually, Wall Street not only got away with the crime they got away with the coverup, the massive fraudulent scheme to foreclose on homeowners even without documentation.

Which is all to say no one thinks the SEC did well before, during, or after the financial crisis.

SAC Capital Indicted, Pleads Not Guilty to Insider Trading Charges

By: Friday July 26, 2013 12:10 pm

SAC Capital has been formally indicted for insider trading and called a “magnet for market cheating” by federal prosecutors who said the firm had engaged in illegal securities trading from 1999 to 2010. While SAC Capital faced charges, its leader and principle beneficiary, Steve Cohen, was not charged.

SAC Capital to Face Criminal Charges

By: Wednesday July 24, 2013 12:55 pm

While the Bush and Obama Administrations let Wall Street slide for causing the 2008 financial crisis and fraudulent foreclosure activities afterward, one hedge fund may finally face charges after years of questionable conduct. SAC Capital, led by billionaire Steve Cohen, has been under investigation for insider trading for a good deal of its history, now it is reported that the firm will face criminal charges.

Former Top SEC Enforcer Accepts $5 Million Salary From Wall Street Firm

By: Tuesday July 23, 2013 9:55 am

The former top law enforcer for the SEC, Robert S. Khuzami, has done what most Wall Street regulators end up doing – taking a lot of money from Wall Street and friends. Khuzami just landed himself a $5 million a year contract, with two years guaranteed, from Kirkland & Ellis, a law firm that makes a sizable portion of its revenues defending Wall Street from the government.

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Upcoming FDL Book Salons

Saturday, April 26, 2014
2:00 pm Pacific
All the Presidents’ Bankers: The Hidden Alliances that Drive American Power
Chat with Nomi Prins about her new book. Hosted by Bill Black.

Sunday, April 27, 2014
2:00 pm Pacific
Summer of Beer and Whiskey: How Brewers, Barkeeps, Rowdies, Immigrants, and a Wild Pennant Fight Made Baseball America’s Game
Chat with Edward Achorn about his new book. Hosted by Richard Taylor (dakine01).