The Role Of The SEC And What's Needed To Keep Watch On Wall Street
http://thedianerehmshow.org/shows/2012-11-28/role-sec-and-whats-needed-keep-watch-wall-street
Mary Schapiro took over as chair of the Securities and Exchange Commission in 2009. The nation was in serious financial crisis and Wall Street seemed to resemble the Wild West in need of a strong sheriff. Many saw Schapiro as that sheriff and credit her with salvaging the agency's role as Wall Street's watchdog. Critics point to unfinished business, such as addressing the root causes of the financial crisis and punishing the perpetrators whose actions contributed to it. A discussion of the role of the SEC and its future under new leadership.
Guests
Mary Schapiro
chair, The Securities and Exchange Commission.
Tom Gorman
co-chair of the American Bar Association's securities fraud subcommittee; former SEC enforcement official; partner at Dorsey & Whitney.
Dina ElBoghdady
reporter, The Washington Post.
Bartlett Naylor
financial policy advocate, Public Citizen, Congress Watch.
Comments
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At the end of the program Diane thanks Ms Shapiro for her "service". Similarly we have heard the same of federal workers, politicians and their staff. Service for what? A highly paid job that, unless one quits, is held on forever because the benefits and pension to work done ratio is second to none. "Service" used to mean volunteering or spending one's own time or a politician who was paid so poorly that running for office was indeed a service. Not now. Our politicians at the federal level become multimillionaires and hold onto their positions as long as possible. They have voted themselves in separate health and retirement programs from the lot of us; Obamacare for Obama??? Not on your life! Obamacare for Nancy, Harry?? Not for the aristocrats. There are ample laws and rules to prosecute every single crook on Wall Street and Ms Shapiro knows it. Her REAL job is negotiating the political labyrinth of of relationships so not to step on the toes of any of her masters. The Bernie M horse has been beat to death, however, when has anyone had the guts to prosecute the greatest ponzi scheme EVER, as it continues unabated on the backs of the US taxPAYER: Social Security. Now that's a scam truly worthy of the SEC's wrath.
Please think that this was only to make a point regarding the stupid Supreme Court opinion of corporations are people my friend. Think for yourself that it would only affect the "top" CEOs/management and not the subordinates!
mnemecek wrote,
"So if the company you or your loved ones work for does something illegal you would just happily go off to jail even though you or they had no decision making responsibility. Lets assume this is the case. You would be on this forum complaining that upper echelon did wrong but the janitor is going to jail for it as well. Please think before you type."
mnemecek,
Please think that this was only to make a point regarding the stupid Supreme Court opinion of corporations are people my friend. Think for yourself that it would only affect the "top" CEOs/management and not the subordinates!