Congress To Probe SEC

or Register to post new content in the forum

10 RepliesJump to last post

 

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Oct 26, 2006 12:46 pm

Wow.  The GAO has been directed by the Congress to investigate whether or not the SEC Office of Compliance, Inspections and Examinations has been even handed in investigations and penalties being meted out.


Who'da thunk it?

Oct 26, 2006 3:12 pm
Starka:

Wow.  The GAO has been directed by the Congress to investigate whether or not the SEC Office of Compliance, Inspections and Examinations has been even handed in investigations and penalties being meted out.


Who'da thunk it?




You have to know that they suspect the SEC has been too nice to us or to firms.  Feel like the SEC's been to generous to reps? 

Oct 26, 2006 3:56 pm

I think it's naughty hedge funds (present company excluded) that the GAO thinks the SEC has been too nice to.

Oct 26, 2006 4:02 pm
ymh_ymh_ymh:

I think it's naughty hedge funds (present company excluded) that the GAO thinks the SEC has been too nice to.


That's exactly what is in the cross hairs---good old hedge funds.

Oct 26, 2006 4:08 pm

Yep, good old boy/girl hedge funds misbehaving badly is a very big problem.

Oct 26, 2006 5:42 pm

Actually, Sen. Grassley has raised questions about whether or not the SEC gave John Mack a pass.  It would seem that the esteemed gentleman from Iowa believes that Mr. Mack was a bad man.

Oct 26, 2006 7:01 pm
Starka:

Actually, Sen. Grassley has raised questions about whether or not the SEC gave John Mack a pass.  It would seem that the esteemed gentleman from Iowa believes that Mr. Mack was a bad man.


Sounds like he believes at least part of the fired SEC guy's story. We'll see where the truth is.


Oct 26, 2006 8:45 pm

Aguirre may or may not have had "enough" circumstantial evidence to bring a case. I think what the Senate wants to know is why the SEC fired him. It makes it look like someone there (at the SEC) is/was trying to protect either Mack or Samberg or both.


Why not just sit the guy down and say, "look, you have done a great job here but we don't have enough to make a case. Maybe there's not a case to be made. We'll keep this open but it time to move on to other cases (lots of them out there)."


Grassley's a good guy. I lived in Iowa way back when for 2 years and he was well respected by the natives.

Oct 26, 2006 9:00 pm

He has his good and bad points.  I didn't think too much of his proposal to ship grain to Russia in Russian freighters, at the expense of US Flag bottoms.


I think this might be a good thing in some respects.  I'd personally like to see some light shed publicly about the "whose is bigger" contest between the NASD and the SEC.

Oct 26, 2006 9:36 pm
ymh_ymh_ymh:

Why not just sit the guy down and say, "look, you have done a great job here but we don't have enough to make a case. Maybe there's not a case to be made. We'll keep this open but it time to move on to other cases (lots of them out there)."



I have a feeling that when the final details are known we'll find that that's exactly what happened. You never know, though.