The SIPA

 April 18, 2010             SEC Criticized For Inaction On Stanford The SEC suspected investment advisor Robert Allen Stanford of operating a Ponzi scheme as far back as 1997, but took no action to stop the fraud until nearly a decade later, according to an independent audit released on Friday. http://www.ft.com/cms/s/0/efecc51c-49a8-11df-9060-00144feab49a.html [...]

As I read the SEC press release on Friday charging Goldman with fraud I couldn’t help but laugh and wonder if they contacted Mario Puzo and asked for advice on how to get the swirling controversy around them to subside. The fraud charges are comical at best due to the fact that one person from Goldman was named in the SEC indictment.

Securities Litigation & Regulatory Report March 30, 2010 SEC Asks Financial Firms About Repurchase Agreements The SEC is looking into the use of repurchase agreements by about two dozen financial institutions. The agreements, dubbed “Repo 105,” involve the use of an accounting method that allowed Lehman Bros. to hide its leverage ratio. Read On.    [...]