The Securities and Exchange Commission (SEC) has recently announced it is discontinuing their enforcement program requiring admissions of wrongdoing and the prosecutorial approach they were supposedly taking after the 2008 financial crisis. Steven Peikin, co-director of the SEC’s enforcement division, said the SEC would drop the “broken windows” strategy of pursuing many cases over even the smallest legal violations, and may also pull back from trying to make some companies admit to wrongdoing as a condition of settling with the SEC.”
The authors of In Defense of “Free Houses” – Yale Law students Megan Wachspress, Jessie Agatstein and Christian Mott have taken a surface view of an extremely deep and dark lake of fraud, criminal behavior and intent.
Understanding the depth of the mortgage securities related corruption would need several scuba dives to get behind the 1990’s intentionally orchestrated criminal behavior. Researchers like Ken Continue reading →