SEC sues former Countrywide CEO Mozilo for Insider Trading

The SEC is doing what they can.
http://www.cftc.gov/opa/press00/opa4479-00.htm

Release: #4479-00
For Release: December 15, 2000

CONGRESS PASSES COMMODITY FUTURES MODERNIZATION ACT

CFTC Reauthorized for Five Years The Commodity Futures Modernization Act, as adopted, is a significant step forward for U.S. financial markets. This important new law creates a flexible structure for regulation of futures trading, codifies an agreement between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission to repeal the 18-year old ban on trading single stock futures and provides legal certainty for the over-the-counter derivatives markets. The law, which reauthorizes the CFTC for five years, also clarifies the Treasury Amendment exclusion and specifically grants the CFTC authority over retail foreign exchange trading. Congress, in passing this law, has effectively implemented the recommendations set forth in the Presidents Working Group on Financial Markets Report on Over-the-Counter Derivatives Markets and the Commodity Exchange Act. The CFTC worked closely with Congress and the futures industry to help design a regulatory structure that is tailored to the specific products and participants of a given market, specifically taking into account the manipulability of the products and eligibility of the participants. This approach will provide U.S. financial markets the flexibility needed to maintain a leadership role in the global market arena. The CFTC will proceed promptly to conform its rules as necessary to the provisions contained in the new law.

Category:

News & Politics

Tags:

• bailout
• subprime collapse
• sec
• cftc
• mozilo
• fuld
• paulson
• bernanke
• gramm
• fannie mae
• freddie mac

[Gina2NYC]

Fox you must do some real investigative reporting. There is so much more to the trading story. You've just touched the surface.

[therealcaptobvious]

The world's greatest financial scandal traded quadrillions in assets, the net worth of the world is only $70 trillion.

You can literally fix the economy, starting out with prosecuting the corrupt CEOs and ranking officials at Fannie Mae and Freddie Mac. Think of the lawyers, auditors, accountants, research experts, international press, assistants, paralegals, bike messengers, IT, hospitality, advertising, publishers, travel...Why do we need a stimulus package?

[SpookeyR]

You commented on my profile about how you agree with me about Ron Paul but, that you couldn't support me on Obama. I would like to know specifically what you think about Paul and Obama and why you apparently don't like either of them.

Thanks!

[therealcaptobvious]

i sent you a pm

[pig5689]

Countrywide & BOA & all bank & mortgage company executives must be prosecuted for fraud & theft. They're all recipients of ill-gotten overpaid salaries & whore bonuses resulting from pure lust & greed. They've destroyed millions of innocent hard-working families savings & incomes just to fatten their wallets. That's pure thievery. Actually it's worse. A typical robber you can catch in the act & they usually get caught. These greedy execs stole as part of evil trickery & laughed while golfing.

[tyronebiggums3]

Hang the Orange One!!!!

[SpookeyR]

You've got the new beta profile and, no offense to you but, I think they look like shit. In a way that's sort of neither here or there bc regardless of what they look like I couldn't find a way to send you a message. Maybe I'm just not used to them.