The Washington Independent

Posts Tagged securities and exchange commission

Taking a Closer Look at Oil Spill Investment Scams

By | 11.01.10 | 2:41 pm

The Securities and Exchange Commission last month warned oil spill victims who have received money under the Gulf Coast Claims Facility to beware of investment scams.

The SEC warned:

[S]cam artists may target payout recipients with oil spill-related investment opportunities that promise high returns with little or no risk,

More…

Insider Trading at BP?

By | 08.02.10 | 2:42 pm

Reuters reports today that the Securities and Exchange Commission is investigating BP for potential insider trading following the oil spill, though few details on the investigation are available.

Goldman Settles SEC Charges for $550 Million

By | 07.15.10 | 5:22 pm

Today — coincidentally or not, the day Congress passed sweeping legislation reforming the regulation of Wall Street banks — the Securities and Exchange Commission announced it has settled with investment bank Goldman Sachs. For misinforming foreign investors about a complex credit-default swap product designed to fail by a More…

Mudslinging Comes Full Circle for House Oversight’s Darrell Issa

By | 07.08.10 | 12:32 pm

Rep. Darrell Issa (R-Calif.) has been receiving a lot of media attention for his gadfly role as ranking member on the House Oversight and Government Reform Committee. Since the Obama administration took office, he’s aggressively pursued investigations against favorite GOP targets like ACORN and alleged wrongdoing by the administration More…

Conference Committee Waters Down Ratings Agency Provision

By | 06.16.10 | 6:19 pm

Today, the conference committee merging the House and Senate versions of financial regulatory reform agreed to water down a provision randomizing the assignment of deals to credit ratings agencies — overhauling the business by stopping companies from shopping for favorable ratings. The reform, proposed by Sen. Al Franken (D-Minn.), More…

Republican Opens Investigation Into Hedge Fund and Advocacy Group

By | 06.04.10 | 5:03 pm

In April, the multibillion-dollar hedge fund Paulson & Co. was cited in a blockbuster Securities and Exchange Commission civil fraud suit against Wall Street investment bank Goldman Sachs. The SEC complaint alleged that Paulson helped build investment vehicles predicated on rising real-estate prices — and then bet against them, More…

J.P. Morgan Warns of Losses From Strategic Default

By | 05.12.10 | 8:39 am

Shahien Nasiripour at the Huffington Post parses a J.P. Morgan filing with the Securities and Exchange Commission and notes that the bank, the second largest in the United States, is concerned about the rising tide of strategic defaulters — underwater homeowners who choose to walk away from their homes. More…

SEC, Congress Investigate Thursday Stock Market Boomerang

By | 05.10.10 | 5:12 pm

Today, the Securities and Exchange Commission met with the heads of the major U.S. stock exchanges, including the New York Stock Exchange and alternative venues like Nasdaq and the Chicago Board Options Exchange. They discussed Thursday’s stock exchange event, where the Dow Jones Industrial Average dropped 1,000 points before More…

Levin: There Is ‘Another Big Shoe to Drop on Goldman’

By | 04.19.10 | 2:29 pm

On Friday, the Securities and Exchange Commission made a bombshell announcement: It is charging Wall Street giant Goldman Sachs with civil fraud for failing to reveal to clients that a hedge fund shorting the housing market had engineered the product they were purchasing to fail.

It seems that might More…

An Analogy for the Goldman Fraud

By | 04.16.10 | 2:31 pm

I’ve been reading the Securities and Exchange Commission’s civil charges of Goldman Sachs and one of its vice presidents carefully. It’s a complicated case dealing with complicated financial instruments, but I think there is a handy analogy to explain it in layman’s terms.

Let’s say that you are More…