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September 15, 2009

Re the Securities and Exchange Commission v. Bank of America: “parsing deals like Rakoff is doing here does no one any good,” says David Zaring. — The Conglomerate.

How can the SEC become tougher, more prosecutorial, while at the same time continuing to have open lines of communication with Wall Street to understand what’s happening in the market? One answer may be to split off its enforcement division. — Peter J. Henning

The financial turmoil last fall was sparked by the speeches that implored Congress to pass TARP, not the collapse of Lehman Brothers, argue University of Chicago professors John Cochrane and Luigi Zingales. “Why? In effect, these speeches amounted to ‘The financial system is about to collapse. We can’t tell you why.’ This somewhat suspect revisionist history comes with a fascinating chart, however. — The Wall Street Journal.

Simon Johnson contends that President Obama’s speech underscores that he is not serious about a financial regulatory overhaul. The big banks, he says, “are back now, with unfettered power and an arrogance that spells trouble.” — Baseline Scenario

The discussion about ways for the government to cut its holding in Citigroup? Well, it’s a start. — Calculated Risk

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