Brilliant compilation. Needs to be sent to every Congressional representative and US Senator with a link to OpenSecrets.org and a note of advice for them to seriously reconsider their investment portfolios.
SEC Enforcement Actions Addressing Misconduct that Led To or Arose From teh Financial Crisis:
Concealed from investors risks, terms, and improper pricing
in CDOs and other complex structured products:
- Citigroup – SEC charged Citigroup’s principal U.S. broker-dealer subsidiary with misleading investors about a $1 billion CDO tied to the housing market in which Citigroup bet against investors as the housing market showed signs of distress. The proposed settlement would require a payment of $285 million by Citigroup that would be returned to harmed investors. (10/19/11)
- Commonwealth Advisors – SEC charged Walter A. Morales and his Baton Rouge-based firm with defrauding investors by hiding millions of dollars in losses suffered during the financial crisis from investments tied to residential mortgage-backed securities. (11/9/12)
- Goldman Sachs – SEC charged the firm with defrauding investors by misstating and omitting key facts about a financial product tied to subprime mortgages as the U.S. housing market…
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A couple of billion? Pocketchnge…
A better questuon is how much did they make bilking us out of trillions? The fines should have been treble damages, or more….Not to mention a barred resort.