Comments by James Kidney. Former trial attorney for the SEC.
"[T]he SEC has become an agency that polices the broken windows on the street level and rarely goes to the penthouse floors,”
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“On the rare occasions when enforcement does go to the penthouse, good manners are paramount.
My superiors were more focused on getting high-paying jobs after their government service than on bringing difficult cases. The agency’s penalties have become at most a tollbooth on the bankster turnpike.”
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“I have had bosses, and bosses of my bosses, whose names we all know, who made little secret that they were here to punch their ticket. They mouthed serious regard for the mission of the commission, but their actions were tentative and fearful in many instances.”
http://mobile.bloomberg.com/news/2014-04-08/sec-goldman-lawyer-says-agency-too-timid-on-wall-street-misdeeds.html
"[T]he SEC has become an agency that polices the broken windows on the street level and rarely goes to the penthouse floors,”
/
“On the rare occasions when enforcement does go to the penthouse, good manners are paramount.
My superiors were more focused on getting high-paying jobs after their government service than on bringing difficult cases. The agency’s penalties have become at most a tollbooth on the bankster turnpike.”
/
“I have had bosses, and bosses of my bosses, whose names we all know, who made little secret that they were here to punch their ticket. They mouthed serious regard for the mission of the commission, but their actions were tentative and fearful in many instances.”
http://mobile.bloomberg.com/news/2014-04-08/sec-goldman-lawyer-says-agency-too-timid-on-wall-street-misdeeds.html