Not With a Bang but a Whimper: The SEC Enforcement Team’s Propaganda Campaign

The New York Times has one of those “inside” stories that unintentionally demonstrate the collapse of justice and financial reporting.  This genre involves the media reporting gravely (and uncritically) the administration’s claims that its failure to prosecute any elite for the largest and most destructive financial frauds in history actually demonstrates the exceptional ethical rectitude of the […]

The Dangerous Myth that Financial Regulation is Unrelated to Financial Crime

The inspiration for this article was an op ed in the Wall Street Journal by Wendy Long, the Republican/Conservative Party of New York’s candidate for the U.S. Senate.  Long’s thesis is: “Since the financial crisis began in 2008, four proposals for financial-industry reform have emerged. Only one will work, and it’s not the one imposed by the 2010 Dodd-Frank […]

Quelle Surprise! SEC Plans to Make the World Safer for Fraudsters, Push Through JOBS Act Con-Artist-Friendly Solicitation Rules

If you merely looked at the SEC’s record on enforcement, you’d conclude that it suffered from a Keystone Kops-like inability to get out of its own way. The question remains whether that outcome is the result of unmotivated leadership (ex in the safe realm of insider trading cases) and long-term budget starvation leading to serious skills atrophy, […]