if the SEC loses.. mum's the word

Discussion in 'Wall St. News' started by nutmeg, Jun 4, 2013.

  1. More than three months ago, the Supreme Court unanimously dismissed Securities and Exchange Commission penalty claims against investment adviser Marc Gabelli because the SEC took too long to file its case. But you wouldn't know that if you monitored the case on the SEC website. You'd find the regulator's initial fraud allegations against Mr. Gabelli but no official acknowledgment that the Supreme Court has significantly gutted the case.

    Like other federal agencies, the SEC has long been good at publicizing its initial accusations of wrongdoing—which is fair enough—but not so good at letting the public know when those accusations turn out to be unfounded or an overreach.

  2. A lot of government-sponsored agencies act this way including law-enforcement. Nobody wants to admit when they are wrong. They'll always find an excuse to blame someone else; However, do expect them to boast if they ever do catch someone.