Silobreaker: SEC head: Blame us for crisis too

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Saturday, November 21, 2009 8:31 PM

Published 10/27/2009 by CNN Money

SEC head: Blame us for crisis too

Mary Schapiro says regulators 'failed to appreciate the growing and concentrated risks' as the meltdown loomed. NEW YORK (Fortune) -- Regulators were as culpable for the financial crisis as banks, mortgage originators, and the ratings agencies, Securities and Exchange...

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What others report on the same story

Schapiro Pushes Again for Creating a Fiduciary ...

SEC Chairman Mary Schapiro today reiterated her support for a universal fiduciary standard that would apply to all financial service professionals who provide investment ... - [10/28/2009 - Bank Investment Consultant]

Speech By SEC Chairman Mary Schapiro: "The...

Thank you for that kind introduction. And, thank you for inviting me here today.I wasn't yet Chairman of the SEC when you held your annual meeting last October. ... - [10/27/2009 - Mondo Visione]

SEC to begin scrutinizing risks related to reti...

Schapiro: By Sara HansardOctober 27, 2009, 10:45 AM EST The Securities and Exchange Commission will begin scrutinizing products related to retirement investing.?Issues ... - [10/27/2009 - Investment News]

SEC Examining 'Sponsored Access' Deals Between ... - [10/27/2009 - Nasdaq]

Schapiro speaks: The SEC chair's opening addres... - [10/27/2009 - Investment News]

SEC Chair Speaks to SIFMA - [10/27/2009 - Wealth Manager]

2nd UPDATE: SEC Examining 'Sponsored Access' Deals - [10/27/2009 - Nasdaq]

Schapiro: SEC to begin scrutinizing risks relat... - [10/27/2009 - Investment News]

Schapiro voices concern about passing RIA regul... - [10/27/2009 - Investment News]

Quotes

...community, "Perhaps we bought into the fears about global competition or failed to appreciate the growing and concentrated risks. 'Either way, the right questions were not asked, nor were the necessary steps taken to mitigate the risk before we coasted to the brink.' At a conference that also included remarks by JPMorgan Chase (JPM, Fortune 500) chief executive Jamie Dimon and Treasury Secretary Timothy Geithner, Schapiro said that market participants and regulators need to find their way back 'to a place where investors have faith that the markets are working as intended.' Noting that the SEC will play an integral role in that journey toward trust and transparency, Schapiro's remarks made note of several areas she said need greater oversight, including hedge funds, over-the-counter derivatives, asset-backed securities, and financial advisors."

SEC head: Blame us for crisis too [CNN Money - 10/27/2009]

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Blogs

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Madoff accountant pleads guilty [Reuters Video: Top News - 11/03/2009]
AIG egregious bonuses 20 October 2009 [Rep. Cliff Stearns - YouTube Channel - 10/20/2009]
French farmers' crisis [France 24 English - YouTube - 10/28/2009]
Madoff friend Picower dies [Reuters Video: Top News - 10/26/2009]
Madoff friend Picower dies [Reuters Video: Top News - 10/25/2009]

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SEC head: Blame us for crisis too