Posts Tagged ‘SEC’
SEC charges former Fannie and Freddie execs
On Friday, the Securities and Exchange Commission brought civil fraud charges against six former executives of Fannie Mae and Freddie Mac. The complaint charges that the executives knowingly misled the public concerning the extent of subprime and Alt-A (a step above subprime) mortgages that they held.
Read MoreThe government part of the Madoff scandal
After the $50 billion Madoff Ponzi scheme came to light, it was learned that, over a 16 year period, the Securities and Exchange Commission had received no less than 6 “tips” that the company was, well, a fraud. The SEC did nothing.
Read MoreMore EPA madness
Remember earlier this year when the President directed that all administrative agencies review their rules so as to strike an appropriate balance between the need for the regulation and the economic impact of the regulation? It should come as no surprise that the EPA either didn’t get the memo, or assumed that the President’s directive did…
Read MoreSo much for transparency: SEC says they are now exempt from FOI requests
Having a government gig can be hard work. It also can be lucrative and easy work for some. For Security Exchange Commission (SEC) employees, the gig just got a bit easier since they no longer have to deal with the public or news organizations filing freedom of information requests.
Read MoreThe SEC and global warming
On Wednesday the Securities and Exchange Commission issued “guidance” to public companies concerning the issue of global warming. As a bit of background, all public companies are required by the SEC to disclose to investors information which might have a bearing on an investor’s decision to, let’s say, purchase or sell stock in that company. The SEC…
Read MoreMadoff Whistleblower scorches the incompetent SEC
Harry Markopolos first blew the whistle on Bernard Madoff 9 years ago and no one listened. The story he tells is compelling. A securities fraud investigator he was asked to look into the Bernie Madoff Invesment Fund: He said he contacted the SEC in 2000 after a four-hour review of Madoff’s investment strategy showed the…
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