Comments on: Yes, the SEC was colluding with banks on CDO prosecutions http://blogs.reuters.com/felix-salmon/2014/04/09/yes-the-sec-was-colluding-with-banks-on-cdo-prosecutions/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: PaladinRegistry http://blogs.reuters.com/felix-salmon/2014/04/09/yes-the-sec-was-colluding-with-banks-on-cdo-prosecutions/comment-page-1/#comment-49758 Tue, 15 Apr 2014 20:57:08 +0000 https://blogs.reuters.com/felix-salmon/?p=23343#comment-49758 Nothing new here. The SEC is controlled by politicians who receive millions of dollars from Wall Street firms to make sure regulations and enforcement favor Wall Street and not investors. And, SEC attorneys will eventually work for Wall Street firms for five times the money they are paid by the SEC. This is collusion at a high level. The solution is in Washington, but apathetic investors/voters have let politicians make collusion a way of doing business. They stay in power and retire with millions of dollars. Only the American public can fix this. But, they are not motivated to fix it – Americans rarely react until problems are out of control. The political problem may get their attention when they cannot afford to retire and are looking for someone to blame. Start with the senators from your state.

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By: anotherfakename http://blogs.reuters.com/felix-salmon/2014/04/09/yes-the-sec-was-colluding-with-banks-on-cdo-prosecutions/comment-page-1/#comment-49757 Tue, 15 Apr 2014 18:56:10 +0000 https://blogs.reuters.com/felix-salmon/?p=23343#comment-49757 It’s not who you know; it’s how well you know them…and how big the bribe is.

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By: Laster http://blogs.reuters.com/felix-salmon/2014/04/09/yes-the-sec-was-colluding-with-banks-on-cdo-prosecutions/comment-page-1/#comment-49741 Sun, 13 Apr 2014 19:56:43 +0000 https://blogs.reuters.com/felix-salmon/?p=23343#comment-49741 @walstir wrote:

The counter parties in the Abacus CDO were easily capable of suing each other if they believed that they were the victims of criminal actions. Why haven’t they sued on their own?

Anyone want to tackle the question on why MBS investors failed(?) to file suit?

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By: walstir http://blogs.reuters.com/felix-salmon/2014/04/09/yes-the-sec-was-colluding-with-banks-on-cdo-prosecutions/comment-page-1/#comment-49740 Sun, 13 Apr 2014 17:26:38 +0000 https://blogs.reuters.com/felix-salmon/?p=23343#comment-49740 “the SEC failed to stand up for CDO investors it should have fought for” … “the SEC quietly assured Goldman — but not the public at large — that none of those {other} deals would result in any charges.”

When the justice system prosecutes burglars, it is fighting for people who usually cannot fight for themselves because they lack the resources. The counter parties in the Abacus CDO were easily capable of suing each other if they believed that they were the victims of criminal actions. Why haven’t they sued on their own? Especially on those other deals where the SEC is not proceeding? How much of the $550 million SEC settlement money when to which counter parties that were judged to be victims?

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By: walstir http://blogs.reuters.com/felix-salmon/2014/04/09/yes-the-sec-was-colluding-with-banks-on-cdo-prosecutions/comment-page-1/#comment-49739 Sun, 13 Apr 2014 17:26:35 +0000 https://blogs.reuters.com/felix-salmon/?p=23343#comment-49739 “the SEC failed to stand up for CDO investors it should have fought for” … “the SEC quietly assured Goldman — but not the public at large — that none of those {other} deals would result in any charges.”

When the justice system prosecutes burglars, it is fighting for people who usually cannot fight for themselves because they lack the resources. The counter parties in the Abacus CDO were easily capable of suing each other if they believed that they were the victims of criminal actions. Why haven’t they sued on their own? Especially on those other deals where the SEC is not proceeding? How much of the $550 million SEC settlement money when to which counter parties that were judged to be victims?

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By: TheMedicalQuack http://blogs.reuters.com/felix-salmon/2014/04/09/yes-the-sec-was-colluding-with-banks-on-cdo-prosecutions/comment-page-1/#comment-49737 Sun, 13 Apr 2014 16:44:24 +0000 https://blogs.reuters.com/felix-salmon/?p=23343#comment-49737 Good day to watch the Quants of Wall Street documentary which by the way was done about 2 months before the flash crash..these former Wall Street Quants were right on with their warnings…it’s the best video I have found where even the layman can understand the processes of how this takes place with math models, the basics..don’t change the portfolio, change the math as the #1 quant in world Paul Wilmott says…it helps understand this article a bit better with some background explanations. I keep it in the footer of my blog along with 3 others that are good and at layman level to watch.

http://ducknetweb.blogspot.hk/2012/09/qu ants-alchemists-of-wall-street-video.htm l

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By: walstir http://blogs.reuters.com/felix-salmon/2014/04/09/yes-the-sec-was-colluding-with-banks-on-cdo-prosecutions/comment-page-1/#comment-49736 Sun, 13 Apr 2014 16:16:21 +0000 https://blogs.reuters.com/felix-salmon/?p=23343#comment-49736 “The SEC filed its case against Goldman and Tourre on April 16, 2010.”

The Tourre case went to trial and is still not over four years later. Any penalty is still to be assessed and a further appeal is possible after any penalty is assessed. Getting $550 million up front might have seemed a better option than a series of court cases that they might have won possibly generating more money at a later date.

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By: Overcast451 http://blogs.reuters.com/felix-salmon/2014/04/09/yes-the-sec-was-colluding-with-banks-on-cdo-prosecutions/comment-page-1/#comment-49735 Sun, 13 Apr 2014 11:57:21 +0000 https://blogs.reuters.com/felix-salmon/?p=23343#comment-49735 *Now that this information is public, the SEC should apologize to all of us for its behavior, and promise not to collude with Wall Street again.*

Promise… that’s a good one, but they do need to bring up charges on all of the rest of those issues. Yes?

I mean – they have not been settled..

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By: Woltmann http://blogs.reuters.com/felix-salmon/2014/04/09/yes-the-sec-was-colluding-with-banks-on-cdo-prosecutions/comment-page-1/#comment-49721 Fri, 11 Apr 2014 00:33:35 +0000 https://blogs.reuters.com/felix-salmon/?p=23343#comment-49721 No it was a whitewash settlement, we’ll admit to a little petty larceny as long as the rules don’t change, and who controls the SEC and hence the rules? None other than the US Senate ..

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By: bwickes http://blogs.reuters.com/felix-salmon/2014/04/09/yes-the-sec-was-colluding-with-banks-on-cdo-prosecutions/comment-page-1/#comment-49719 Thu, 10 Apr 2014 16:07:29 +0000 https://blogs.reuters.com/felix-salmon/?p=23343#comment-49719 Of course if you look at the information that Goldman disclosed in the Abacus deal (see Foote, et al, http://papers.ssrn.com/sol3/papers.cfm?a bstract_id=1153411) then you can see that the investors had all the information available they needed on the CDO. So really the prosecution was not about justice but about politics to get a conviction. This was a nuisance settlement.

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