Friday, June 06, 2014
An internal investigation at General Motors into a faulty ignition switch concludes that there's been an 11-year "history of failures." In releasing the report Thursday, is this CEO Mary Barra's first step in changing the culture of the "GM Nod?"
Friday, August 02, 2013
The SEC secured a courtroom win against an employee of a Wall Street bank at the center of the financial collapse. A jury Thursday found former Goldman Sachs trader Fabrice Tourre, the self-proclaimed "Fabulous Fab," liable on six counts of fraud.
Thursday, April 25, 2013
A group of Democratic officials and shareholder activists has petitioned the Security and Exchange Commission to require corporations to disclose their political donations to their shareholders. David Primo, Ani and Mark Gabrellian Professor, at the University of Rochester explains his opposition to the proposed rule. Robert Jackson, a Columbia University Law School Professor, was one of the authors of the original petition asking the SEC to require political spending disclosure.
Monday, April 09, 2012
By Osborne Hazel : Economics and legal blogger
Last Thursday, President Obama signed the Jumpstart Our Business Startups Act, or JOBS Act, which included many policies intended to help small and emerging businesses grow into larger, more successful companies.
Friday, February 03, 2012
After the financial meltdown of 2008 people looked to the Securities and Exchange Commission to use its regulatory powers to get to the bottom of the crisis and possibly craft suitable punishments to prevent the same mistakes in the future. Regulation is supposed to discourage not reward bad decisions. But an analysis conducted by our partner The New York Times shows the agency has repeatedly allowed the biggest firms to avoid punishments.
Tuesday, December 20, 2011
A series of recent filings from the Securities and Exchange Commission bring new charges against executives at Fannie Mae and Freddie Mac. The SEC claims executives misled investors about Fannie and Freddie's exposure to subprime mortgages in the two years leading up to the housing market collapse. It is unusual to hear a defense of the mortgage giants — conventional wisdom holds that their risky loans were at the heart of the financial crisis from the beginning. But writing in his New York Times op-ed column, Joe Nocera argues that the SEC's latest complaint shows "how desperate the SEC has become to bring a crowd-pleasing case."
Tuesday, November 29, 2011
A federal judge rejected a $285 million settlement between Citigroup and the Securities and Exchange Commission, objecting to the practice of allowing banks to settle fraud cases without admitting guilt. Citi may now face a trial over the sale of toxic mortgages which cost investors millions but made the bank profit. The judge said the public has a right to "the transparency of financial markets whose gyrations have so depressed our economy and debilitated our lives."
Wednesday, October 19, 2011
By Ilya Marritz
Citigroup has settled charges by the Securities and Exchange Commission that one of its subsidiaries deceived investors in a mortgage-related product right before the collapse of the housing market.
Thursday, August 25, 2011
Rolling Stone writer Matt Taibbi discusses his latest article, “Is the SEC Covering Up Wall Street Crimes?” For the past two decades, according to a whistle-blower at the SEC who recently came forward to Congress, the agency has been systematically destroying records of its preliminary investigations once they are closed.
Wednesday, March 09, 2011
The Securities and Exchange Commission has received criticism for its incompetence in catching Bernie Madoff's Ponzi scheme, and now it faces an investigation in Congress. The House Committee on Oversight and Government Reform will be calling in two key SEC players for a thorough grilling. David Becker, former general counsel for the SEC will have to answer questions regarding his involvement with Madoff as an investor, and SEC Chairman Mary Schapiro will have to answer why she allowed Becker to work on Madoff matters. Did the SEC have a conflict of interest in dealing with Madoff?
Friday, January 07, 2011
Louise Story, Wall Street and finance reporter for The New York Times, discusses her breaking story on a new investigation by the Securities and Exchange Comission against the California Public Employees' Retirement System, known as Calpers. During the financial crisis, the fund lost a significant portion of its portfolio, leaving the California on shaky financial ground.
Friday, November 19, 2010
New York Attorney General and Governor-elect Andrew Cuomo has brought a civil suit against former "Car Czar" Steven Rattner, accusing him of fraud in an attempt to win hundreds of millions in investments from the New York State pension system. Cuomo says he's continuing an investigation into possible criminal activity by Rattner, who has just agreed to pay $6.2 million to the U.S. Securities and Exchange Commission to settle a separate civil lawsuit.
Thursday, October 14, 2010
According to reports from The New York Times, Steven Rattner, the man who oversaw the Obama Adminsistration's turnaround of the auto industry, has apparently reached a settlement with the Securities and Exchange Commission over his role in a large and long-standing pension fund kickback scheme.
Friday, July 16, 2010
Wall Street giant Goldman Sachs has agreed to pay $550 million to the Securities and Exchange Commission in hopes of settling the fraud suit levied on the company back in April. The settlement is pending approval by a federal judge; if approved, it would be the largest penalty ever assessed against a financial firm in the SEC's history.
Wednesday, May 12, 2010
- FINANCIAL TAKEOUT: The head of the U.S. Securities and Exchange Commission warned that it will take time to get to the bottom of last week’s precipitous, if brief, market correction that lead the Dow index to drop almost 1000 points in under an hour. The New York Times' Wall Street and finance reporter Louise Story says that hasn’t stopped the country’s top securities regulator from announcing plans to put in place safeguards from preventing a repeat “flash crash.”
- KILLINGS IN CHINA: A string of brutal attacks on schoolchildren in China has the country reeling. This morning, seven kindergarten children and one teacher were killed after a man attacked them with a meat cleaver. The Chinese government has clamped down on reporting on this most recent story in order to avoid copycat attacks. Damian Grammaticas, BBC reporter in Beijing, fills us in.