Are Wall Street Executives Getting Off Easy for Committing Fraud?
Host:
Produced by:
Subscribe to this Podcast:
Listen to/Watch entire show:
The Securities and Exchange Commission is settling fraud cases with big Wall Street institutions, but for corporate executives there's no shame and no pain. We hear how the latest case against Citigroup fits, still being considered by a federal judge. Also, the Supreme Court will hear the challenge to Obama healthcare law, and Google is building robots.
Banner image: A Citibank branch in New York City. Photo by Mario Tama/Getty Images
Making News
Supreme Court to Hear Challenge to Obama Healthcare Law ()
The US Supreme Court will decide whether President Obama's healthcare law is constitutional, right in the middle of next year's presidential campaign. The court considered appeals from three lower court decisions, and then decided to consider just one. David Savage covers the court for the Los Angeles Times.
Guests:
- David Savage: Los Angeles Times, @latimes
Main Topic
SEC Settlements Raise Questions about Watchdog's Teeth ()
A federal judge is still considering Citigroup's latest settlement of fraud charges brought by the Securities and Exchange Commission. Citigroup did not have to admit wrongdoing and received a fine critics call "a slap on the wrist," that shareholders, not executives, will have to pay. It follows a familiar pattern — for Goldman Sachs, Morgan Stanley, JP Morgan Chase, Bank of America and Citigroup itself -- that has even some insiders asking who is the SEC working for? Is it protecting consumers or big banks? Why aren't company executives being hauled into court, especially if their practices helped bring about the collapse of the housing market?
Guests:
- Edward Wyatt: New York Times
- Arthur Levitt: Goldman Sachs
- Robert Scheer: TruthDig.com, @Robert_Scheer
- Mark Calabria: Cato Institute
Links:
- Levitt's Newsweek interview with Michael Hirsh
- SEC Inspector General's report on Stanford's alleged Ponzi scheme
- Gillian Tett's 'Fool's Gold: How the Bold Dream of a Small Tribe at J.P. Morgan Was Corrupted by Wall Street Greed and Unleashed a Catastrophe'
- PBS on the demise of the Glass-Steagall Act
- Wyatt on promises made, remade in SEC fraud cases
- Levitt's 'Take on the Street: What Wall Street and Corporate America Don't Want You to Know and What You Can Do to Fight Back'
- Scheer on Robert Rubin, Citigroup settlement
- Scheer's 'The Great American Stickup: How Reagan Republicans and Clinton Democrats Enriched Wall Street While Mugging Main Street'
Reporter's Notebook
Google's Secret Lab for the Future ()
"In a top-secret lab in an undisclosed… location where robots run free, the future is being imagined." That's not the tease for a new movie but the lead on a news story. That secret location is in the San Francisco Bay Area and nobody is talking about it for attribution. Technology reporter Nick Bilton is following the Google story for the New York Times.
Guests:
- Nick Bilton: New York Times
Engage & Discuss
Further the conversation with your thoughts and comments. Agree, disagree, present a different perspective -- engage.
For information and guidelines click: Terms of Service | Privacy Policy
Please note, comments are moderated. KCRW reserves the right to edit and or remove posts deemed off-topic, abusive or not in accordance with KCRW's Privacy Policy and Terms of Use.
BROUGHT TO YOU BY
