Here’s a three-point plan for Obama’s new nominee Mary Jo White.
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Occupy the Southern District of New York: Judge Strikes Down SEC-Citibank Settlement
Federal District judge Jed Rakoff followed through with a smackdown of the Securities Exchange Commission on Monday, rejecting a settlement between the agency and Citibank that would have imposed a $285 million penalty on the bank without forcing it to admit wrongdoing for betting against mortgage securities that eventually cost …
A Call to Arms Every Liberal Can Love
Are you a Democrat who’s uneasy with the radical sloganeering of Occupy Wall Street protesters? Do you think Elizabeth Warren’s critiques on big business are a little, well, pushy? If you’re a liberal (as Phil Ochs said, “Get it?”) looking for safe, non-socialist ground from which to argue that America’s system for overseeing …
Re: Re: Playing Politics With Goldman
I would point out two things about the SEC suit: The investigation began well before Obama was elected president and Goldman was warned in July 2009 — hardly the height of financial reform debate — that charges were coming. From the Wall Street Journal:
Goldman said it first heard from the SEC about the investigation in August 2008,
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That Didn’t Take Long…
I mentioned earlier that the Goldman fraud allegations would likely be wielded by Democrats as an exemplar in the financial reform fight. Yup. (Emphasis mine):
Washington, DC—Nevada Senator Harry Reid released the following statement today in response to SEC charges against Goldman Sachs regarding mortgage investments:
“Millions
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Re: More Bad News For Big Banks
Stephen Gandel over at the Curious Capitalist has some more context and analysis on the SEC action against Goldman.
Of political import:
The first question was who was damaged here. The answer is all of us. First of all, the investors who bought the securities lost about $50 billion on them. Those investors were mostly pension funds.
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