Ed Wyatt of the New York Times has released an important story tonight on how the SEC goes easy on big banks by giving them exemptions to laws meant to stop securities fraud. This report stands in stark contrast to a Reuters story which repeats the favorite Administration mantra: it’s really hard to prosecute financial-related cases. It sure is when you don’t chose to use the powers you have.
The gist of the Times piece is that the SEC gives the biggest banks like JP Morgan and Goldman waivers so that they can continue to have ready access to the financial markets without a lot of hassle. The overview:
Read more: http://www.nakedcapitalism.com/2012/02/quelle-surprise-sec-fails-to-sanction-big-banks-for-fraud.html
The gist of the Times piece is that the SEC gives the biggest banks like JP Morgan and Goldman waivers so that they can continue to have ready access to the financial markets without a lot of hassle. The overview:
Read more: http://www.nakedcapitalism.com/2012/02/quelle-surprise-sec-fails-to-sanction-big-banks-for-fraud.html
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