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The Good, The Bad and The Ugly: 3rd Week in March

Occupy the SEC is a group of concerned citizens, activists, and financial professionals with decades of collective experience working at many of the largest financial firms in the industry. This is our roundup of juicy press about Wall Street and financial regulation, for this week.

The Good

  • Potential good. Carl Levin’s Permanent Subcommittee on Investigations will be holding a hearing at 9:30 am today titled “J.P. Morgan Chase “Whale” Trades: A Case History of Derivatives Risks and Abuse.” We can only hope he brings the fire again (like his famous “shitty deal” grill of Dan Sparks) and highlight the banks’ continued excesses and criminality to the public. Matt Taibbi will be live-blogging too. Matt Taibbi at Rolling Stone March 14, 2013

The Bad

  • Through a FOIA request, the LA Times learns that the FDIC has been covering up for banks by not publishing the fact they engaged in really bad behavior through a “no press release” clause in their settlements. E. Scott Reckard at The Los Angeles Times March 11, 2013
  • Jim Himes, former Goldman executive and now financial chair of the DCCC, introduces a bill to weaken Dodd-Frank, specifically the Prohibition Against federal Government Bailouts of Swaps Entities, which bars federal assistance from being provided to any swaps entity. Chelsea Kiene at the Huffington Post March 8, 2013

The Ugly

  • Mary Jo White sails through the confirmation hearing as nearly all congressmen (except Sherrod Brown) throw her softballs, not to mention a particularly slobbering introduction from Charles Schumer about her love of motorcycles. Pam Martens at Wall Street on Parade March 14, 2013

 

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