Wednesday, April 29, 2009

The Debts of the Spenders: SEC Investigating 50 Credit-Default Swaps, 150 Hedge Funds

Perhaps the SEC will also look into the suspicious late day trading going on in equities lately. But somehow, I am skeptical of any real changes happening.

The Securities and Exchange Commission is currently investigating 50 cases of credit-default swaps and 150 hedge funds, Chairman Mary Schapiro told the Society of American Business Editors and Writers. The investigations are in line with objectives of the Obama Administration to overhaul financial regulations.

The SEC is also probing more than two dozen municipal securities for potential “fraud, public corruption and price transparency,” Schapiro said.



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