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WSJ: SEC Prosecution Fail

Posted By Barry Ritholtz On September 12, 2013 @ 6:30 am In Bailouts,Legal,Really, really bad calls,Regulation | Comments Disabled

5 years after the financial crisis, the WSJ [1] 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 [2]



click for ginormous graphic
P1-BN090_NEWSEC_G_20130911185112 [3]
Source: WSJ [4]


Article printed from The Big Picture: http://www.ritholtz.com/blog

URL to article: http://www.ritholtz.com/blog/2013/09/wsj-sec-prosecution-fail/

URLs in this post:

[1] WSJ: http://online.wsj.com/article/SB10001424127887323864604579064961041032146.html#project%3DNEWSECjp0912%26articleTabs%3Darticle

[2] Image: http://www.ritholtz.com/blog/2013/09/wsj-sec-prosecution-fail/#more-104806

[3] Image: http://www.ritholtz.com/blog/wp-content/uploads/2013/09/P1-BN090_NEWSEC_G_20130911185112.jpg

[4] WSJ: http://online.wsj.com/article/SB10001424127887323864604579064961041032146.html#project%3DNEWSECjp0912%26articleTabs%3Dinteractive

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