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Fraud Enforcement and Recovery Act

52 Reasons to Vote for Obama: #21, Keeping Our Homes

Bernard Whitman | Posted 11.12.2012 | Politics
Bernard Whitman

Six weeks after taking office, President Obama introduced the Making Home Affordable program to help homeowners prevent foreclosure, stabilize the housing market, and improve our economy. Under this program, many homeowners can lower their monthly mortgage payments.

Financial Fraudsters Beware -- Breuer, Khuzami, Perkins Are Still on the Case

Ted Kaufman | Posted 05.25.2011 | Politics
Ted Kaufman

I will say now that I'm frustrated. We have seen very little in the way of senior officer or boardroom-level prosecutions of the people on Wall Street who brought this country to the brink of financial ruin. Why is that?

A Real Pecora Commission

Robert Kuttner | Posted 05.25.2011 | Politics
Robert Kuttner

In 1932 through 1934 the Senate Banking Committee, led by its Chief Counsel Ferdinand Pecora, ferreted out the deeper fraud and corruption that led to the Crash of 1929 and the Great Depression. The Pecora Committee's findings helped change the political mood, and laid the groundwork for the sweeping financial reforms of Roosevelt's New Deal. President Obama has now signed legislation which, among other things, creates an investigative commission inspired by Pecora. The new Financial Markets Commission has a sweeping mandate, including subpoena powers, to investigate all the causes of the collapse. But whether the commission carries out this mandate will depend entirely on who its chair and members are, and whether they hire a tough staff.

The Fake Out: Imitating Regulation in the Era of Madoff

Harry Moroz | Posted 05.25.2011 | Business
Harry Moroz

The Senate is capable of making activity illegal that the general public already assumes is illegal.