Securities and commodities violation

From SourceWatch
Jump to: navigation, search

Securities and commodities violations . . .


Recent Cases/Related Articles


Regulation and Oversight

  • Scandalous Measures, A.C. Thompson and James A. Thompson, 19 November 2003, In These Times:
    The Bush administration is quietly seeking to roll back oversight of the banking business and the scandal-riddled securities market through two pending proposals--a planned rule change for the banking industry and a house bill--that diminish the ability of states to police banks and stock brokers.
    • Formulated by the Office of the Comptroller of the Currency, the shakeup would nullify state banking laws stricter than federal regulations. Headed by John D. Hawke, Jr., a K-Street player who's worked for Democrats and Republicans, the OCC is a little-known regulatory backwater but it wields a vast amount of power over the nation's financial institutions.
    • The banking proposal looks suspiciously like another Bush administration scheme: HR 2179, a House bill introduced this session by Rep. Richard Baker (R-La.) and supported by Rep. Michael Oxley, (R-Ohio), Bush's point man on corporate crime. The pending legislation is supposed to beef up the anemic and long-under-funded Securities Exchange Commission. But it, too, would curb the power of states to combat stock market scams.

External links