Saturday, February 2, 2013

in case you guys hadn't read this already, it's Taibbi's second installment on our new SEC chief, re-touching on her possible collusion with then-SEC head Paul Berger and Enforcement Head Linda Thomsen to effectively wreck the insider trading investigation of MOrgan Stanley then-CEO JOhn Mack.

Investigating SEC agent Gary Aguirre's criminal case is swapped out by SEC officials for a cheap civil penalty, Aguirre is fired for frivolously creating the hassle (he sued successfully for wrongful termination) and Berger lands a cushy job at D&P.

White observes that Berger's inclination to aggressiveness might have harmed his viability in the private sector, that they performed extensive due diligence to screen any for any backlash that might accompany his hire. 

Taibbi's theses remain:  SEC and Wall Street are thick with revolving door corruption, and the federal nomination of Mary Jo White has just brought it full circle.

Bring the pain!

1 comment:

  1. So what do you think, Will? Totally reasonable horror at Wall Street/K Street cronyism aside, have you decided whether particularly high levels of outrage are due this appointment?