trueslant.com - 10/1/2009
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The SEC’s Order and the NYSE Decision against Goldman find that for more than two years, beginning in March 2000, the customers’ pattern of trading and Goldman’s own records reflected that they were selling the securities short in violation of Rule 105 and Rule 10a-1(a). The customers did not ...
trueslant.com - 9/29/2009
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trueslant.com —
The SEC is holding a public round table
Tuesday to explore several issues around securities lending, which...
has expanded into a big moneymaker for Wall Street firms and pension funds. Regulation hasn’t kept pace, some industry participants ...
(more)
Matt Taibbi - Taibblog – An Inside Look at How ...
ritholtz.com - 10/1/2009
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ritholtz.com —
The problems at the SEC were decades in
the making. Essentially the largest prosecutor’s office in the...
country, they have been undercut at every turn: Their staffing was far too small to handle the jurisdiction (Wall Street and corporate ...
(more)
Fixing the SEC
zerohedge.com - 10/7/2009
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zerohedge.com —
Securities Industries News discloses that the SEC has
requested it be granted authority to have "direct access...
to real-time data" on CDS and other derivatives. One wonders how the SEC was operating up until this point without this information. Yet ...
(more)
SEC Begging For Real Time CDS Pricing Terminal
Comments
Blog Reactions
Thursday links: downward drift
Abnormal Returns —
... the iconic private-equity firm’s relentless two-year quest for a public listing.” (WSJ also 24/7 Wall St.)
High frequency traders are competing on cable length, and no that is not a euphemism for something else. (Marginal Revolution, Clusterstock)
Naked shorting back in the news. (Megan McArdle, Clusterstock, Matt Taibbi)
Is the point of most financial innovation to ...
Monday Afternoon Reading
The Big Picture —
A rather interesting and eclectic set of readings:
• Inside the Crisis:Larry Summers and the White House economic team (New Yorker)
• The elusive leverage ratio (Rolfe-Winkler)
• Gold Is Still a Lousy Investment (WSJ)
• A Look Inside the Regulatory Kitchen (Matt Taibbi)
• Unemployment Becoming Leading Indicator for Pimco’s New Normal (Bloomberg)
• Todd Harrison interviewed by Steve Forbes (Video)
• Elite Military Hacker Squad Would Stop Wars With Bits, Not ...
Related Content
Fiscal Year 2009: The SEC’s Year from Hell
securitiesdocket.com 10/14/2009 — For the Securities and Exchange Commission, which operates on a fiscal year that ends every September, Oct. 1, 2009, could not come soon enough. It seems almost beyond dispute that the agency’s fiscal 2009 was the most dismal in its history, and perhaps the most transformational.
Now it ...
SEC Self-Funding: The Time Has Come
feedproxy.google.com 9/9/2009 — B. Carton
As I argued in this column last month, the Securities and Exchange Commission budget has been well below where it should be for several years. This shortfall has caused the SEC to suffer a 10 percent reduction in staff and a cut of more than 50 percent in its new technology ...
Matt Taibbi - Taibblog - On giving Goldman a chance
trueslant.com 6/30/2009 — After my Rolling Stone piece about Goldman, Sachs hit the newsstands last week (unfortunately the piece is not yet up on the magazine’s web site, so I can’t link to it yet — but it is out in print), I started to get a lot of mail. Most of it was ...
Fixng the SEC
ritholtz.com 9/30/2009 — The problems at the SEC were decades in the making.
Essentially the largest prosecutor’s office in the country, they have been undercut at every turn: Their staffing was far too small to handle the jurisdiction (Wall Street and corporate ...
On SEC Funding, Congress Must Put Up or Shut Up (or Give Up and Allow Self-Funding)
securitiesdocket.com 8/11/2009 — Back in January, U.S. Rep. Gary Ackerman (D-N.Y.) was recognized to speak at a House sub-committee hearing about the Madoff Ponzi scheme and the need for better regulatory oversight to prevent such fraud. He promptly lashed out at a witness from the Securities and Exchange Commission, stating: ...
The Rakoff Decision: The SEC Will Be Changed Forever
247wallst.com 9/15/2009 — Federal District Judge Jed S. Rakoff was supposed to a approve a $33 million settlement between the SEC and Bank of America (BAC) over the issue of the financial firm making inaccurate statements regarding Merrill Lynch employee compensation. These ...
SEC Heal Thyself: Compliance Program Revamped
securitiesdocket.com 6/9/2009 — The Securities and Exchange Commission just hasn’t had enough bad news recently, so last month the media piled on even more: a probe of insider-trading allegedly going on inside the SEC.
Specifically, the agency’s inspector general has found evidence of “suspicious activity, appearances of ...
Matt Taibbi - Taibblog – Bailout Propaganda Begins
trueslant.com 9/1/2009 — Nearly a year after the federal rescue of the nation’s biggest banks, taxpayers have begun seeing profits from the hundreds of billions of dollars in aid that many critics thought might never be seen again. via As Biggest Banks Repay Bailout Money, ...
Supermassive Black Hole
epicureandealmaker.blogspot.com 9/23/2009 — A reader writes in response to my most recent jeremiad on the proper size of investment banks in our Brave New World: I couldn’t agree more with the notion that what the world needs is more, smaller financial firms that have less ability to dominate ...
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