Both the SEC and FINRA Need a Trip to the Congressional Woodshed By Dan Taylor
Thursday, August 7th, 2008
SEC Chief Cox was under fire June 23 from Congress for lack of leadership during the Bear Stearns crisis. Guess who else was missing from the leadership chair? FINRA. That’s right, those lunch-policing, font-checking, e-mail monitoring bureaucrats had been notoriously low-key during the recent crisis. Probably because in the new world they want the role of enforcer for the Fed. They will have to go a long way to get back the $1.2 trillion that’s missing from the assets of US citizens who invested in the subprime debacle.
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