Wall Street – Washington “Do-Si-Do” If the SEC prosecuted bank robbers . . . . –98% would get away with it, scott-free; –the ones it apprehended would sign a cease-and-desist letter “neither admitting nor denying guilt,” and pay a civil fine of 2¢ for every $1 they stole. –the bank robbers so chastened would wait six months (maybe) before ....Read More
Mozilo Settles With SEC for $68 Million The best way to rob a bank . . . is to own one. There’s a reason why bank robbers — at least the “blue collar” kind — get charged with criminal (prison) rather civil penalties (read, fines): if it were otherwise, they’d just write a check if/when...Read More
