{"id":194209,"date":"2008-10-15T23:06:00","date_gmt":"2008-10-16T04:06:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/10\/15\/sec-failed-to-monitor-bear-stearns-well-before-collapse\/"},"modified":"2008-10-15T23:06:00","modified_gmt":"2008-10-16T04:06:00","slug":"sec-failed-to-monitor-bear-stearns-well-before-collapse","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/10\/15\/sec-failed-to-monitor-bear-stearns-well-before-collapse\/","title":{"rendered":"SEC Failed to Monitor Bear Stearns Well Before Collapse"},"content":{"rendered":"<p>The SEC prematurely <a href=\"http:\/\/www.cnbc.com\/\/id\/27123485\">folded an investigation of Bear Stearns involvement in collateralized debt obligations<\/a>:<\/p>\n<blockquote style=\"color: rgb(0, 0, 102);\"><p>In the report, obtained by CNBC, SEC Inspector General David Kotz says the agency inexplicably dropped the case in 2007, even after Bear Stearns had offered to pay a monetary settlement.<\/p>\n<p>The report says the director of the SEC&#8217;s Miami office, David Nelson, had an &#8220;ongoing personal relationship&#8221; with the Bear Stearns attorney in the case. In dropping the case, Nelson allegedly told his friend, &#8220;Christmas is coming early this year,&#8221; adding Bear Stearns &#8220;can keep their money.&#8221;<\/p><\/blockquote>\n<p>More importantly, the SEC&#8217;s Inspector General notes that this investigation would likely have uncovered the problems that led to the demise of the investment bank.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The SEC prematurely folded an investigation of Bear Stearns involvement in collateralized debt obligations: In the report, obtained by CNBC, SEC Inspector General David Kotz says the agency inexplicably dropped the case in 2007, even after Bear Stearns had offered to pay a monetary settlement. The report says the director of the SEC&#8217;s Miami office, &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[970,1004,985],"tags":[],"class_list":["post-194209","post","type-post","status-publish","format-standard","hentry","category-corruption","category-finance","category-regulation"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/194209"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=194209"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/194209\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=194209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=194209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=194209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}