Thursday, August 27, 2009

SEC, a Nuisance

"Maurice R. 'Hank' Greenberg, the former head of [AIG] in a rare concession agreed to pay $15 million to settle a securities-violation allegation arising from the giant insurer's past accounting improprieties. He didn't admit or deny wrongdoing", my emphasis, Amir Efrati and Lian Pleven at the WSJ, 7 August 2009, link:

Another SEC nothingburger.

1 comment:

Anonymous said...

The "Nuisance" regulator... yup... barely a pebble in the road to those that run the financial services business.

The regulator as "window dressing"... there to make investors feel "protected" ha!

Wall Street snaps their fingers and the SEC rolls over.

Regulatory capture? No, regulatory enslavement.

It takes William Galvin, Andrew Cuomo and Richard Blumenthal to go after anything.

That ain't saying much for our "world class securities regulator".