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Friday, February 3, 2012

S.E.C. Is Avoiding Tough Sanctions for Large Banks

That's the headline in The New York Times.

By granting exemptions to laws and regulations that act as a deterrent to securities fraud, the S.E.C. has let financial giants like JPMorganChase, Goldman Sachs and Bank of America continue to have advantages reserved for the most dependable companies, making it easier for them to raise money from investors, for example, and to avoid liability from lawsuits if their financial forecasts turn out to be wrong.  

In the current state of inequality, some criminals are too big to hold accountable for their crimes.

1 comment:

John said...

In the choir of idiots one lone sane voice attempted to stop the greedy madness. The sane one is practically one of our own.

At long last an attorney general is taking on the banksters. Recall the FBI's long said that over 80-85% of the mortgage fraud was bankster fraud . . . so where, we ask, are the federal indictments. . . [insert the crickets chirping],0,7444600.story?track=rss&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+latimes%2Fbusiness+%28L.A.+Times+-+Business%29

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Aberdeen, South Dakota, United States