Subscribe: RSS Feed | Twitter | Facebook | Email
Home | Contact Us

Posts Tagged ‘FINRA oversight of Lehman’

SEC Oversight of Lehman, or Ignorance is Not Bliss

Posted by Larry Doyle on April 1st, 2010 9:42 AM |

Ignorance is never an excuse. Whether in regard to law enforcement, financial regulation, or other forms of supervisory oversight, ignorance may be the reality . . . but we can never allow it to be used as an excuse. Regrettably, ignorance (if not worse) was clearly on rampant display as the SEC (and in my opinion, FINRA as well) failed America miserably in its oversight of Lehman Brothers.

One of my favorite financial journalists, Bloomberg’s Jonathan Weil, highlights the pathetic performance of the SEC regulators who were charged with overseeing one of the firms that catapulted our economy off a cliff. Weil writes, Wall Street’s Repo 105 Cops Wake Up From Dead:

The good news this week from the Securities and Exchange Commission is that it’s on the hunt for companies that have used Lehman-style accounting tricks to make themselves look less leveraged than they really are. Now for the downside: The headline-chasing agency is way too late, as usual. (more…)

Bloomberg’s Susan Antilla Exposes Lehman’s Charade

Posted by Larry Doyle on March 15th, 2010 10:54 PM |

Journalism is not dead.

I find it easy to critique financial journalists and journalism these days for not digging to expose the charades within the Wall Street-Washington incestuous liaisons; however, a few journalists are not beholden to the financial industry, do dig, and truly distinguish themselves in the process. The two finest journalists in this realm both happen to work at Bloomberg. One is Jonathan Weil. The other is Susan Antilla.

While many journalists have written about the finer points of repo financing and how Lehman cooked their books, Susan Antilla took the time to delve deeper into Anton Valukas’ expose on the inner workings of Lehman. (more…)

Recent Posts