Our Captured Federal Regulator the SEC
“The Securities and Exchange Commission, regulator of our nation’s capital markets, has been captured by financial elites to the point that it favors Wall Street over Main Street.” If you enjoy intellectual history you may enjoy the first post, “What is ‘Capture’?” Otherwise, you can easily skip to the second, “Capture & the SEC”, with no harm to sense or understanding.
Professor William Black Flunks Bethany McLean for Giving Hall Passes to Goldman Sachs and Wall Street
I first heard of William K. Black over 20 years ago as the regulator who had stood up to…
August 18, 2012
Moral Hazard at the SEC
When attempting to understand much of what happens at the Securities and Exchange Commission, I believe moral hazard is nearly as important a factor as the much more frequently-discussed matter of regulatory capture.
July 28, 2010
Goldman’s gold has lost its luster
Goldman may be flush with cash, but with pressure mounting on politicians to reject any of it in the form of campaign contributions, suddenly that cash doesn’t spend nearly as well as it used to.
May 6, 2010
The SEC and its culture of regulatory capture
But dig a little deeper and you’ll find the Stanford case is the bigger outrage by far, not so much for the scam itself, but for the shocking behavior of the regulators tasked with preventing it. Where Madoff was enabled by SEC bureaucratic incompetence, Stanford was empowered by overt SEC indifference.
April 29, 2010
SEC Enforcement Chief Linda Thomsen Joins Davis Polk. Somebody Call Kreskin.
As a rule, I avoid criticizing individual public servants. Elected officials are fair game, in my view, but…
April 13, 2009
A hedge fund suite for Richard Sauer
In a recent interview, SEC whistleblower Gary Aguirre offered his insights into the regulatory failings that allowed the…
December 29, 2008
Regulators Spring Into Action Against Naked Short Sellers. Or not.
As is explained in numerous pieces in DeepCapture, there are many cracks in the settlement system, one of…
December 7, 2008
There. Was That So Hard?
In mid-2004 the Securities & Exchange Commission (itself a kind of a joint venture of the US federal…
October 29, 2008
Wall Street Captures the SEC
For reasons that will eventually become clear, in early 2005 I began to believe that the SEC was…
January 26, 2008
In the late 19th century the work of governing the United States began its partial shift from legislatures…
January 26, 2008