5 years after the financial crisis, the WSJ produces this enormous graphic about SEC prosecutions, and the lack thereof.

The key takeaway: If you can write a bog enough check, you do not really need to worry about breaking the law. Settlements are merely another cost factor, a cost of doing business.

After initially rejecting an SEC settlement with Bank of America, U.S. District Judge Jed S. Rakoff sums up this assembly line process: “While better than nothing, this is half-baked justice at best.”

 

click for complete graphic
sec action

 

 

click for ginormous graphic
P1-BN090_NEWSEC_G_20130911185112
Source: WSJ

 

Category: Bailouts, Legal, Really, really bad calls, Regulation

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5 Responses to “WSJ: SEC Prosecution Fail”

  1. [...] Barry Ritholtz, The Big Picture, WSJ: SEC Prosecution Fail, here. [...]

  2. trainreq says:

    U.S. District Judge Jed S. Rakoff sums up this assembly line process: “While better than nothing, this is half-baked justice at best.”

    To quote a famous Benjamin “Oh it’s not. It’s completely baked.”

  3. Frilton Miedman says:

    Rule of law?…Who’s rule of law?

  4. [...] From The Big Picture, a WSJ info-graphic detailing the SEC’s astonishing lack of prosecutorial vigor. [...]

  5. McDaniel says:

    Jon Corzine is still free and rich, nuff said.