While the markets were coming undone in 2008, securities regulators and law-enforcement types were busy. The problem, says Charles Gasparino, is that they were investigating the wrong thing.
The U.S. Securities and Exchange Commission has paid $580,000 to settle claims by a former internal watchdog that he was fired in an effort to quash his investigations.
Britain’s financial regulator introduced an emergency extension for customers who want to complain about a form of loan insurance.
The sales pitch for President Barack Obama’s nominee to run the Securities and Exchange Commission goes something like this:
U.S. Senator Charles Grassley asked the Financial Industry Regulatory Authority to provide information on the “potential scope of suspicious trading activity” at SAC Capital Advisors LP, the hedge-fund firm founded by billionaire Steven A. Cohen .