SEC Was Colluding With Banks On CDO Prosecutions

By: Monday April 14, 2014 10:38 am

As evidence has continually trickled out about the numerous criminally fraudulent activities Wall Street firms engaged in that led to the housing crash, increasing amounts of attention has been focused on regulators that seem to have given banksters a pass. When it came to disciplining finance capital, as one former Wall Street lawyer turned Attorney [...]

Retiring SEC Attorney Says Agency Fails To Hold Powerful Accountable

By: Wednesday April 9, 2014 6:10 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. Kidney joined the SEC in 1986 [...]

SEC Contacting Financial Firms With Russian Investments

By: Thursday March 20, 2014 12:54 pm

Will Exxon's 'bromance' with the Kremlin keep Putin in check? — Forbes (@Forbes) March 20, 2014 The Securities and Exchange Commission is contacting public funds with exposure to Russian investments in order to ensure they were prepared for the effects of political instability as tensions rose over Crimea. According to Reuters the calls [...]

JPMorgan Pays Small Fine For Lying To Regulators And Manipulating Market

By: Thursday September 19, 2013 8:58 am

You had to see this coming. 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 [...]

Financial Crisis Cases Ending As SEC Struggles With Reputation

By: Thursday September 12, 2013 11:06 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 [...]

SAC Capital Indicted, Pleads Not Guilty To Insider Trading Charges

By: Friday July 26, 2013 10:23 am

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 principal beneficiary, Steve Cohen, was not charged. The 41-page indictment and prosecutors depicted a [...]

SAC Capital To Face Criminal Charges

By: Wednesday July 24, 2013 10:38 am

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 [...]

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

By: Tuesday July 23, 2013 8:08 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 [...]

SEC Deregulates Hedge Funds

By: Thursday July 11, 2013 10:23 am

The SEC is back to its old tricks, putting aside the public interest for private concerns. The latest maneuver involves lifting the ban on allowing highly risky investment vehicles known as hedge funds to advertise publicly for the first time. Yes, even in the bubblemania of the 1990s this was not done for fear people [...]

Steve Cohen Escapes Jail Time Pays $600 Million For Insider Trading Crimes

By: Friday March 22, 2013 5:57 am

The Teflon Trader slips away again. For those who don’t know, Steve Cohen of SAC Capital, number 36 on Forbes’ Richest Americans list, has been under investigation for a good deal of his career. The suspicion is always the same, insider trading. And now Cohen’s firm is part of a settlement to pay $600 million [...]

Report: Revolving Door At SEC Killed Reforms, Mary Jo White Case In Point

By: Tuesday February 12, 2013 7:00 am

In news that is not surprising to anyone with a firing neuron in their brain, a report by the Project on Government Oversight (POGO) finds that the incestuous nature of the SEC-Wall Street relationship caused reform efforts in the money market fund industry to fail. Former U.S. Securities and Exchange Commission staffers who now work [...]