Is the SEC covering up Wall St crimes?

http://www.rollingstone.com/politics/news/is-the-sec-covering-up-wall-street-crimes-20110817?print=true

by kjw • 15 years ago

5 2 15 years ago

This is very well written and makes a lot of sense. I am certain that a vast amount of the population has wondered why no action has been taken against anyone in regards to the financial collapse. Interestingly, we are only now seeing the government looking into matters involving S&P after the S&P lowered the credit rating.

kjw• 15 years ago

I joined a startup hedge fund six months ago after five years in VC. The amount of corruption and questionable practices on Wall St that continue today, even after enactment of supposed tougher regulation and oversight, surprised me. It's not a level playing field out there.

I think the situation will improve, but it seems to be an uphill battle against corruption in the regulatory bodies.

I do wish there were more software employed for the enforcement. e.g. it's blatantly obvious that there is insider trading if you examine spikes in volume prior to M&A announcements. I can't imagine it would be that hard to mine the transaction data for offenders.

But as the article says, you can't build up a good database of evidence if you are regularly purging the data.

Is the SEC covering up Wall St crimes?

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