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Tag: Sec


Shutterstock

Shareholders’ Quest for More Transparency

A proposed Securities and Exchange Commission rule would force publicly traded companies to disclose their political spending to their shareholders.

Posted on Sep 12, 2014 READ MORE



Marcio Jose Bastos Silva / Shutterstock.com

Private Equity Is Becoming a Public Problem

A few weeks ago, a top official at the Securities and Exchange Commission reported on what he called a “remarkable” amount of potentially illegal behavior in the private equity industry—aka the industry that buys up, changes and sells off smaller companies.

Posted on Jun 6, 2014 READ MORE



How Corrupt Is the Obama Administration?

A retiring prosecutor reveals just how unlawful the SEC is; the Netflix show “House of Cards” has helped China’s image in the U.S.; meanwhile, the long-term unemployment crisis must be resolved. These discoveries and more after the jump.

Posted on Apr 12, 2014 READ MORE



The NFL Proves Why America Needs to Update Its Civil Rights Laws

If ever there was a perfect example of how employment discrimination against gay people operates on a day-to-day basis—and why Congress needs to outlaw such discrimination—the National Football League just provided it.

Posted on Feb 21, 2014 READ MORE



401(k) 2013 (CC-BY-SA)

Hedge Fund Settles Insider Trading Case for $600 Million

The Securities and Exchange Commission says it has won the largest ever settlement in an insider trading suit.

Posted on Mar 15, 2013 READ MORE


Bill Moyers Has a Problem With Obama’s SEC Nominee

The broadcaster points out that President Obama, just like George W. Bush, is pushing his nominees through the revolving door between regulatory agencies and the banks they’re supposed to oversee.

Posted on Mar 12, 2013 READ MORE



AP/Michael Dwyer

Truthdigger of the Week: Elizabeth Warren

At a Senate hearing Thursday, Elizabeth Warren exposed and shamed regulators for failing to prosecute banks that played a leading role in the financial crisis.

Posted on Feb 16, 2013 READ MORE



Kerry Calls Out Johnson, Zuckerberg Plans Christie Fundraiser, and More

A look at the day’s political happenings, including President Obama naming a new SEC head and Joe Biden dispensing some interesting earthquake advice during a Google+ “Fireside Hangout.”

Posted on Jan 24, 2013 READ MORE



AP/Mark Lennihan

A Sign That Obama Will Repeat Economic Mistakes

Reports in the business press tout a prime participant in the great banking hustle as a possible candidate to be the next Treasury secretary.

Posted on Dec 7, 2012 READ MORE



GOP Backs Off Norquist Anti-Tax Pledge, Fox News Dissed on Fox News, and More

A look at the day’s political happenings, including another legal challenge to President Obama’s health care law and billionaire Warren Buffet discusses what Congress should do about taxing the wealthy.

Posted on Nov 26, 2012 READ MORE


Lehman Brothers: We Let Them Get Away With It

“60 Minutes” digs into the collapse of Lehman Brothers, and more specifically the government’s decision not to prosecute the managers of the failed investment bank or its accounting firm.

Posted on Apr 23, 2012 READ MORE



HA! Designs - Artbyheather (CC-BY)

Banks Pay Bupkis for Roles in Crisis

Bank of America: $11.9 billion; JPMorgan: $5.44 billion; Wells Fargo: $4.35 billion. These are the fines the banks have paid so far in settlements to the government for wrongdoing amid the financial crisis.

Posted on Mar 8, 2012 READ MORE



nataliej (CC-BY)

Why No One Would Listen

What’s worse: to be persecuted and indicted for trying to expose an act of wrongdoing? Or—like so many in the corporate and financial world—to be ignored for doing so?

Posted on Mar 7, 2012 READ MORE


‘Left, Right & Center’: Leaving Iraq, for Better or Worse

What’s America’s legacy in Iraq going to be? Can we read it accurately from this moment, now that the war is “officially” over? Also on this week’s rundown of topics for “Left, Right & Center” panelists Robert Scheer, Matt Miller, Chrystia Freeland and Mark Tapscott are Fannie and Freddie vs. the SEC and a farewell to Christopher Hitchens.

Posted on Dec 16, 2011 READ MORE


‘Left, Right & Center’: Occupy This and That

In this week’s installment of “Left, Right & Center,” panelists Robert Scheer, Tony Blankley, Matt Miller and Chrystia Freeland take stock of the unemployment crisis in our country, which is a gigantic enough topic as it is. But wait—there’s much more.

Posted on Dec 2, 2011 READ MORE



Composite image: Handout / Mary Altaffer, AP

Truthdigger of the Week: Judge Jed Rakoff

There are those occasions when the choice for Truthdigger of the Week is so clear that our tribute practically writes itself. This is one of those times.

Posted on Dec 2, 2011 READ MORE



AP / Dan Steinberg

You Can Arrest an Idea

Count the liberal mayor of Los Angeles as one of those apologists for suppressing truth in the name of civic order.

Posted on Dec 1, 2011 READ MORE



Eflon (CC-BY)

We Deserve the Truth From Citigroup, Judge Rules

A federal judge will not accept the SEC’s settlement with Citigroup for defrauding its customers of more than $700 million in just one of the firm’s lousy investment opportunities. (more)

Posted on Nov 28, 2011 READ MORE



AP / Damian Dovarganes

California Refuses to Accept Obama’s Banking Sellout

There is no three-strikes law for crooked bankers, who usually get off with a fine and a promise not to do it again, and again and again.

Posted on Nov 10, 2011 READ MORE



AP / J. Scott Applewhite

Too Big to Jail

Can we all agree that a $1 billion swindle represents a lot of money? So why isn’t former Citigroup Chairman Robert Rubin breaking a sweat?

Posted on Nov 2, 2011 READ MORE



Flickr / Rochelle, just rochelle (CC-BY)

American Officials Enjoy Lives Without Shame

Three recent news headlines illustrate how shameless some American officials have become when it comes to breaking the rules or messing up and pretending that everything is still OK. They also prove that in modern America, it’s possible for screwups to continue their lives and careers with hardly a blip.

Posted on Sep 2, 2011 READ MORE


Madoff
AP / Louis Lanzano

Madoff Speaks

It’s hard to believe that it has already been two years since the implosion of Bernie Madoff’s devastating Ponzi scheme, and it’s hard to comprehend why the fallen financier would choose this moment to unburden himself to New York magazine’s Steve Fishman ...

Posted on Mar 1, 2011 READ MORE


SEC building
Wikimedia Commons / AgnosticPreachersKid

More Stocks Subject to SEC ‘Circuit-Breaker Rule’

Remember that crazy time back in May when the Dow Jones unexpectedly dropped by almost 1,000 points in only half an hour? Well, the SEC has finally worked in some protection against such sudden plunges by expanding the number of stocks subject to its current “circuit-breaker rule.”

Posted on Sep 12, 2010 READ MORE



Goldman Sachs Slapped With Hefty Fine in U.K.

Goldman Sachs hasn’t been the most popular name in finance lately on this side of the Atlantic, and now the Brits have jumped into the fray, hitting the banking behemoth with a $31 million fine for keeping its stateside troubles secret from U.K. authorities.

Posted on Sep 8, 2010 READ MORE



Goldman Sachs’ Profit Takes a Major Plunge in Q2

Those of us who have stood aghast and watched as Goldman Sachs seemed to sail almost unscathed through the erupting economic catastrophe of the last two years (thank you, bailout!) might stop now for a moment of pure schadenfreude, as the megabank’s profits took a precipitous dive in the second quarter of this year.

Posted on Jul 20, 2010 READ MORE



More Champagne for Goldman Sachs

You know you have it made when a $550 million settlement with the SEC boosts your stock by $3 billion. Goldman Sachs’ penalty for selling a fancy investment it secretly bet against was about half what was expected, amounting to just 14 days of earnings. You might say they got away with it.

Posted on Jul 15, 2010 READ MORE


Goldman execs
AP / Charles Dharapak

Senators Grill Goldman Execs About Their ‘Shitty Deal’

Tuesday was not a fun day to be a top executive at Goldman Sachs. Sen. Carl Levin and his posse from the Permanent Subcommittee on Investigations made sure of that during a lengthy interrogation session, which included quite a zinger ... (continued)

Posted on Apr 27, 2010 READ MORE


Goldman CEO to Perform Community Service as Treasury Secretary

A Treasury Department spokesperson said that by performing community service as treasury secretary, Lloyd Blankfein will do less harm to the economy because he will have significantly less power than he had as chairman of Goldman.

Posted on Apr 25, 2010 READ MORE



Wikimedia Commons

SEC’s Dirty Little Secret

One wonders if there is a smutty equivalent to Nero’s fiddling while Rome burns. If there is, it might be applicable to the senior staffers at the SEC who spent hours watching pornography on government computers instead of policing the nation’s financial system.

Posted on Apr 23, 2010 READ MORE


SEC building
Wikimedia Commons / AgnosticPreachersKid

Key Testimony May Hinder SEC’s Goldman Sachs Suit

On Wednesday, a day after Goldman Sachs stock took a dip as the SEC’s lawsuit against the financial giant loomed large, The Wall Street Journal suggested that Goldman could catch a break in the case ... (continued)

Posted on Apr 21, 2010 READ MORE


Just Doing My Job

Share
Posted on Apr 21, 2010 READ MORE


Goldman Sachs
AP / Mark Lennihan

Goldman Plays, We Pay

The story of the financial debacle will end the way it began, with the super-hustlers from Goldman Sachs at the center of the action and profiting wildly. Never in U.S. history has one company wielded such destructive power over our political economy, irrespective of whether a Republican or a Democrat happened to be president.

Posted on Apr 20, 2010 READ MORE


Colbert

‘Colbert Report’: The SEC Shafts Goldman Sachs

Stephen Colbert is outraged at the Obama administration’s attempt to thwart banks’ promotion of risky investments. After all, risky investments are like risky sex, and “if you make the banks wear a condom, they won’t be able to feel it when they’re f*&#ing us over.”

Posted on Apr 20, 2010 READ MORE


Goldman building
Flickr / laverrue

Goldman Sachs Posts Big Profits as SEC Suit Awaits

Goldman Sachs has demonstrated a remarkable ability to keep pulling in the profits—and bestowing bonuses on company execs—regardless of the state of the global economy, and despite what the bank might have done to damage it in the first place. On Tuesday ... (continued)

Posted on Apr 20, 2010 READ MORE


Goldman’s Shell Game

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Posted on Apr 19, 2010 READ MORE


Goldman Sachs
AP / Mark Lennihan

SEC Slaps Goldman Sachs With Fraud Suit

In a move that may signal the beginning of the end of Goldman Sachs’ golden era, the Securities and Exchange Commission filed a civil suit Friday against the banking behemoth, accusing the company of selling customers subprime mortgage derivatives ... (continued)

Posted on Apr 16, 2010 READ MORE


Madoff
AP / Louis Lanzano

SEC Missed Multiple Opportunities to Bust Madoff

It was a sad case of too little, too late when it came to the Securities and Exchange Commission’s readings of Bernie Madoff’s now-collapsed house of cards. On Wednesday, the SEC released a report about Madoff’s massive financial boondoggle, detailing the many moments in which chances were missed to stop the damage from spreading as far as it did.

Posted on Sep 2, 2009 READ MORE


banking hearing
AP / Susan Walsh

Letting the Banking Rats Out of the Bag

“Was there some sort of ghost that performed these actions?” New York federal Judge Jed S. Rakoff demanded to know Monday in rejecting a deal that would let Bank of America off the hook in yet another banker bonus scandal.

Posted on Aug 11, 2009 READ MORE


B of A
ceoworld.biz

SEC Fines B of A $33M for Bonus Bust

It’s baffling how $33 million can seem like a relatively small sum lately, but given that it’s all that Bank of America will have to pay the SEC for failing to inform investors about the billions in bonuses the bank paid Merrill Lynch executives during B of A’s acquisition of Merrill last year, it seems more like a light knuckle-rap than a full-on spanking.

Posted on Aug 3, 2009 READ MORE



AP photo / Pablo Martinez Monsivais

Outrage—and Business as Usual

The public face of Congress is angry and outraged at all the bad behavior by banks, but in the other Washington, the financial industry continues to have its way.

Posted on Jun 8, 2009 READ MORE


Madoff
msrb.wordpress.com

Madoff’s Victims Speak Out

Some of them have only their homes, while others have no remaining assets and no means to earn income, but all of the former clients of Bernard Madoff (above) whose statements were made public by the government on Friday described in nightmarish terms their experiences since Madoff’s fraudulent investment empire crumbled.

Posted on Mar 21, 2009 READ MORE


Cramer on TheStreet.com TV

Jim Cramer’s Stock Market Manipulation Primer

So, CNBC hyperpundit Jim Cramer was the very picture of contrition during his cringe-tastic appearance on Thursday night’s “Daily Show.” But let’s revisit this moment from 2006—when Cramer brought a much haughtier version of himself to TheStreet.com TV to discuss, among other delightful topics, how to “create a new truth to develop a fiction” whilst in “hedge-fund mode”—shall we?

Posted on Mar 13, 2009 READ MORE


SEC logo
blog.kir.com

Sex and the SEC

Turns out that certain employees at the Securities and Exchange Commission weren’t just asleep at the wheel, as it were, when they should have been paying more attention to Bernard Madoff’s worrisome investment activities.

Posted on Dec 19, 2008 READ MORE


Obama appointees
AP photo / Gerald Herbert

Tough Road Ahead for New Economic Appointees

On Thursday, President-elect Barack Obama introduced three top financial appointees who will help him with the unenviable task of revamping the government’s economic regulatory system and “crack[ing] down on this culture of greed and scheming that has led us to this day of reckoning,” as Obama put it.

Posted on Dec 18, 2008 READ MORE


Horlick
epws-shanghai.org

Wealthy Investors Lose Fortunes in Wall Street Scam

Although the full extent of the damage from broker Bernard Madoff’s alleged super-swindle has yet to be determined, it’s clear by now that the collapse of his vast pyramid scheme may spell utter disaster for several of his top investors—some of whom might not know yet that they’re broke.

Posted on Dec 13, 2008 READ MORE


Madoff
streetinsider.com

Top Broker Busted for $50B ‘Ponzi Scheme’

Here’s yet another candidate for the expanding collection of Tales from the Dark Side of Wall Street (is there any other side?): The Wall Street Journal reported Friday that Bernard L. Madoff, a top trader for nearly five decades who has served as chairman of the Nasdaq Stock Market, was arrested this week after his sons turned him in for engineering an elaborate “Ponzi scheme.”

Posted on Dec 12, 2008 READ MORE


FBI to Investigate Mortgage Crisis

The FBI has announced an investigation into the practices of more than a dozen companies related to the subprime mortgage crisis that has destabilized the American and global economies. The Securities and Exchange Commission has already launched investigations of its own, and though it’s nice to see the authorities crack down on improper practices, it would be nice to have some oversight before there was a crisis.

Posted on Jan 29, 2008 READ MORE


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