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2009-09-15 — bloomberg.com
" Now the SEC is in a jam, said Peter Henning, a former SEC attorney who teaches law at Wayne State University in Detroit. Regulators could dismiss a case in which the bank is accused of breaking the law. They could try the case and risk that the bank has strong defenses. Or they could file a new lawsuit against individual executives or lawyers after saying earlier that they lacked sufficient evidence to do so. “In a sense, the SEC has painted itself into a corner,†Henning said in an interview."
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Comments:
tvsterling at 05:56 2009-09-16 said:
I think the judge is absolutely right; the stockholders shouldn't be left holding the bag. This kind of outside neutral judgment is what justice is all about. I could care less if the SEC ends up looking stupid or incompetent or worse. After all it's what they have been for some time. It's high time for the SEC to DO IT'S JOB. As for the bank using it's lawyers as whipping boys; good luck. I think the law is clear; YOU are responsible for your employees NOT THE OTHER WAY AROUND. Permalinkadd a comment | go to forum thread
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