Walking a Tightrope: Financial Reform Options
Whatever does happen, Congress faces a mid-term election in 2010. So far, lawmakers have been all talk and no action on financial regulatory reform. Will voters be content with a lot of blather and little action when the elections come around?
SEC Proposes Flash Order Ban
The Securities and Exchange Commission voted unanimously to propose a rule amendment to officially ban flash orders.
Eliot Spitzer on How Banks Have Spent Taxpayers' Money
Former Governor Eliot Spitzer talks with CNN's John Roberts on the economy and Wall Street. Spitzer says not enough has been done since Lehman failed a year ago, likening what has been done so far to moving deck chairs on the ship of the Titanic and not actually doing anything at a regulatory level that will change the system.
Madoff Used SEC Incompetence to Lure Investors
It was pretty obvious that SEC Inspector General David Kotz's internal review of the agency's missteps around the Madoff fraud wasn't going to be pretty. But when the executive summary was released yesterday I couldn't pull myself away.
The details around how exactly the SEC botched each individual complaint it received about Madoff and his questionable practices were very interesting. Particula
SEC Summary: Madoff Intimidated Examiners
The Executive Summary of SEC Inspector General David Kotz’s internal report on the agency’s failings to uncover the Madoff fraud has been released, describing in detail the investigative shortcomings in each of six complaints received by the SEC starting in June of 1992.