FROM: Mr. Lloyd Blankfein 200 West Street New York, New York 202-555-MOTU TO: CEO Chump City, ForeignLand Dear Sir: I have been requested by the Facebook Company to contact you for assistance in resolving a matter. The Facebook Company has recently concluded new agreements to share its users’ identities. The contracts have immediately produced moneys [...]

The WaPo reports that an SEC Inspector General report shows that the SEC gave Bank of America lenient treatment when it fined BoA for its funny business surrounding the Merrill Lynch acquisition, but did not place limits on BoA’s ability to issue securities that would normally be placed on a firm that violates securities law. [...]

Yesterday, the SEC told ratings agencies they mean business. They will prosecute agencies for fraud. In the future. It did so in a report of investigation into explicit fraud on the part of Moody’s in which the SEC declined to prosecute for jurisdictional reasons. At issue is a programming error that caused Moody’s to give [...]

The big outrage de jour making the rounds in the media currently is the porn scandal at the Securities and Exchange Commission (SEC). The problem was born and matured under Bush and Cox, it is the fact that it is symptomatic for the emaciation and gutting of the SEC which occurred at their hands and express direction.

New York City District Attorney Robert Morgenthau lands a broadside Morgenthau on the Federal oversight and investigation of financial fraud. Morgenthau’s criticism has important implications in light of the recent travails on Wall Street, including powerful allegations currently lodged against Goldman Sachs.