Comments on: Counterparties: Winner winner prison dinner http://blogs.reuters.com/felix-salmon/2013/01/29/counterparties-winner-winner-prison-dinner/ A slice of lime in the soda Sun, 19 May 2013 14:44:14 +0000 hourly 1 http://wordpress.org/?v=3.4.2 By: Sechel http://blogs.reuters.com/felix-salmon/2013/01/29/counterparties-winner-winner-prison-dinner/comment-page-1/#comment-45706 Sechel Tue, 29 Jan 2013 23:39:08 +0000 http://blogs.reuters.com/felix-salmon/?p=20333#comment-45706 We just saw Breuer and Shapiro leave their post. Obama has been pounded as being soft on fraud. This is low hanging fruit. But seriously, how does this compare to EPD mortgages, Abacus & MF Global? It doesn't. And what's the charge? Violating the SEC 5% rule? Given how FINRA watered down it's MBS trace reporting requirements, that the more serious frauds go scott free and that buyers always need to do their own due diligence before selling this is at most a slap on the wrist, a fine and being barred from the SEC, one has to wonder how politically motivated this is. We just saw Breuer and Shapiro leave their post.
Obama has been pounded as being soft on fraud.
This is low hanging fruit.

But seriously, how does this compare to EPD mortgages, Abacus & MF Global? It doesn’t. And what’s the charge? Violating the SEC 5% rule?

Given how FINRA watered down it’s MBS trace reporting requirements, that the more serious frauds go scott free and that buyers always need to do their own due diligence before selling this is at most a slap on the wrist, a fine and being barred from the SEC, one has to wonder how politically motivated this is.

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