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Securities And Exchange Commission

WNYC News

JPMorgan Admits Responsibility over ‘London Whale’

Thursday, September 19, 2013

JPMorgan Chase & Co. has admitted wrongdoing in the massive 2012 trading loss known as the "the London Whale."

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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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WNYC News

Goldman Sachs' Fabrice Tourre Found Liable in Mortgage Securities Fraud

Thursday, August 01, 2013

A New York City jury has found that a former Goldman Sachs trader known as "Fabulous Fab" is liable in a massive mortgage securities fraud case. 

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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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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

Is Mary Jo White a Tough Cop or a Wall Street Insider?

Tuesday, February 19, 2013

President Obama's nominee to head the Securities and Exchange Commission, Mary Jo White, continues to receive praise and criticism for her background. By some, she's hailed as the tough prosecutor who took down John Gotti and a laundry list of most-wanted terrorists. But White has also come under fire for her connections to big banks. Peter Henning is a law professor at Wayne State University. Formerly, he was a Senior Attorney with the SEC's Division of Enforcement.

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The Takeaway

A New Sign that President Obama Is Getting Serious About Prosecuting Financial Crime

Friday, January 25, 2013

President Obama announced yesterday that Mary Jo White, a former federal prosecutor, is his pick to serve as the next chairwoman of the Securities and Exchange Commission. If confirmed by the Senate, White will be the first prosecutor to head the S.E.C., suggesting that the Obama administration may be making a point of elevating financial crimes to the criminal level. New York Attorney General Eric Schneiderman discusses President Obama's pick.

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WNYC News

Could Changes at the SEC Means Changes for the Financial Industry?

Tuesday, November 27, 2012

A change at the top of the Securities and Exchange Commission could mean new changes for the financial industry.

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The Brian Lehrer Show

Changes at the SEC

Tuesday, November 27, 2012

Neil Barofsky, former Special Inspector overseeing TARP and author of BAILOUT: An Inside Account of How Washington Abandoned Main Street While Rescuing Wall Street, talks about changes at the SEC and what it means for financial reform.

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Transportation Nation

The S.E.C. Settles With Car Czar Rattner, But Cuomo's Not Done With Him Yet

Thursday, November 18, 2010

(Kate Hinds, Transportation Nation) GM Turns a page today, issuing a $16 billion IPO that has (as the New York Times puts it ) "Wall Street panting."  But on the day the automaker crawls out its hole, the man who set the stage for the deal crawls into one.

Former auto czar Steven Rattner will pay $6.2 million as part of a settlement deal with the Securities and Exchange Commission. He has also accepted a two-year ban from the securities industry.  Meanwhile, in separate proceedings, New York State Attorney General and Governor-elect Andrew Cuomo has filed two lawsuits against Rattner for $26 million dollars.  Read the story at WNYC.

Richard Bamberger, Andrew Cuomo's director of communications, issued this statement:  “Mr. Rattner now has a lot to say as he spins his friends in the press, but when he was questioned under oath about his pension fund dealings he was much less talkative, taking the Fifth and refusing to answer questions 68 different times.  Anyone who reads the extensive facts laid out in our Complaint will understand that Rattner’s claims that he did nothing wrong are ridiculous and belied by the fact that he is paying the SEC $6 million today.”

Ouch.

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