OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

SEC IG Report on Bear Stearns Shows SEC Deference to Wall Street

Press Release

Date: Oct. 10, 2008
Issues: Finance and Banking


SEC IG Report on Bear Stearns Shows SEC Deference to Wall Street

Sen. Chuck Grassley, ranking member of the Committee on Finance, today made the following comment on the Inspector General report on the Securities and Exchange Commission's treatment of Bear Stearns.

"The Inspector General's findings offer yet another disturbing example of the lack of vigorous enforcement at the SEC. While it is not clear whether more aggressive action in this case could have helped the SEC identify systemic risks at Bear Stearns much earlier, it certainly demonstrates the culture of deference at the SEC in dealing with the big players on Wall Street."

In April, Grassley requested an Inspector General review of the case. The text of his press release and request letter follows here.


Source
arrow_upward