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Sec

Money Talking

The Future of General Motors and High-Speed Trading

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?"

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Money Talking

Former Goldman Trader Found Liable for Misleading Investors in Mortgage Deal

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.

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Money Talking

Money Talking: The End of the Stimulus?

Friday, June 21, 2013

The Federal Reserve has kept interest rates low and taken other measures to stimulate the economy in recent years, but we've always known the extraordinary measures were not going to last forever.

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Money Talking

Companies and Political Contributions

Friday, April 26, 2013

Publicly traded companies may soon be required to disclose political donations if the Security and Exchange Commission accepts the arguments from investors, elected officials and several corporate and securities law experts.

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The Takeaway

Should Corporations be Required to Disclose Political Spending to Shareholders?

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. 

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The Takeaway

JOBS Act Makes it Easier for Small Businesses to Raise Money

Monday, April 09, 2012

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.

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The Takeaway

Securities and Exchange Commission Under Scrutiny

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.

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WNYC News

NYC Judge Stands Behind SEC-Citigroup Ruling

Tuesday, December 27, 2011

A New York City judge says his decision blocking a $285 million settlement over toxic mortgage securities should stand.

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The Takeaway

How Serious Are the SEC's Charges Against Fannie Mae and Freddie Mac?

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 columnJoe Nocera argues that the SEC's latest complaint shows "how desperate the SEC has become to bring a crowd-pleasing case."

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The Takeaway

Judge Rejects Citigroup Settlement Over Toxic Mortgages

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."

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WNYC News

Citi Pays $285 Million to Settle Charges It Deceived Investors

Wednesday, October 19, 2011

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.

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The Leonard Lopate Show

Matt Taibbi on the SEC and Wall Street

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.

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The Takeaway

SEC and Madoff: A Conflict of Interest?

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? 

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WNYC News

SEC Supports Rule to Delay Bonuses

Wednesday, March 02, 2011

In a move to curb excessive risk-taking on Wall Street and the influence of credit ratings, the Securities and Exchange Commission has voted in support of rules outlined in the Dodd-Frank Act.

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The Takeaway

SEC Investigates Country's Largest Public Pension Fund

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.

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The Takeaway

Former Auto Czar Steven Rattner Sued for Pension Fraud

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.

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WNYC News

Reports Say Former Car Czar Has Reached a Settlement with SEC

Thursday, October 14, 2010

WNYC

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.

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The Takeaway

Goldman Sachs to Settle with SEC in Fraud Case

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.

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WQXR News

Goldman to Pay $550 Million to Settle SEC Suit

Thursday, July 15, 2010

Goldman Sachs has reached a settlement with the Securities and Exchange Commission over charges it misled buyers of mortgage-related investments.

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The Takeaway

Takeouts: SEC Chair Testifies on Flash Crash, Another Attack on Chinese Schoolchildren

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.

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