At this time of the year, one of the most asked questions is, “Hey, what do you want for Christmas?” Not one to knock down tradition, I say more power to those who want to give gifts. If nothing else, giving a gift means you care (I think). In any case, the SEC is giving us all a gift, and in the spirit of the Christmas, I say to the agency, more power to you.
NEW YORK (Reuters) – Four people were arrested on charges of leaking secrets about technology companies to hedgefunds, including details about Apple Inc’s iPad ahead of its launch, in a widening U.S. probe into insider trading.
Better yet, since the SEC already has a tremendous amount of power, I wish that it use it more profoundly and with a bigger whip. Not that I am not grateful for what it is doing, I am, but we need as much help as we can get to level the playing field, which is now dominated by the powerful traders representing corporate America, specifically the banking oligarchy. So please, Santa, (not to be greedy myself), please bring me more of the SEC gift giving.
Okay, as long as I am getting my wish list out, I can tell you I want more of the same, only different. I want more prosecution from other agencies as well of the bad people and the bad companies that work to subvert and cheat the system for their personal gain.
NEW YORK (Reuters) – Prosecutors in New York are set to file civil fraud charges against accounting firm Ernst & Young LLC over the collapse of Lehman Brothers Holdings Inc, the Wall Street Journal said on Monday, citing people familiar with the matter.
Wow! That was quick. Me likey much. Go get those fake accountants whose primary function is to protect the fat cats that steal our money. Thanks, Santa. What? There is more …
NEW YORK/WASHINGTON (Reuters) – Securities regulators have broadened their inquiry into the mortgage industry, asking big banks about the early stages of securitizing home loans, two sources familiar with the probe said. The Securities and Exchange Commission launched the new phase of its investigation by sending out a fresh round of subpoenas last week to big banks including Bank of America Corp, Citigroup Inc, JPMorgan Chase & Co, Goldman Sachs Group Inc and Wells Fargo & Co, the sources said.
Oh my gosh, now I embarrassed. This is too much, really (really?). Okay, now I am in the spirit. Gimme, gimme, gimme …. More, more, more … Wait! I need to take a breath … So much so fast is turning me into something, well, similar to that which I rail against. Okay, okay, I am fine now. I am happy with what I am getting for Christmas from all whose business it is to keep the system fair, and to protect us from those who would carelessly act in their own best interest, despite the effect their actions have on the rest of us. Thanks, Santa. No really thanks Santa. I mean it.
Trade in the day; invest in your life
