SEC Rebuffs Congress in Bear Sterns Probe
What is the SEC hiding? Congress wants to know why the SEC stopped its investigation of Bear Sterns on a matter involving pricing of CDO's. These are the complex securities that have created some of the havoc in the financial markets. The SEC says they don't have to provide the "confidential" information Congress seeks.
Why doesn't the SEC just give Congress what it wants? Maybe there's a good reason. But I don't see it. It seems like they're hiding something. Bear Sterns is dead. Soon they'll be part of JP Morgan. What is the SEC protecting? Is it their ability to run investigations in a confidential manner? But it's all a moot point now.
I'm puzzled by the SEC drawing this line in the sand. And I don't think it's comforting to know that some things need to be kept hidden. There's too much that we don't know. Like how many credit default swaps are sitting out there waiting to create even more havoc in the credit markets. This is the time to open the windows and let the sun shine. Unless, of course, they're hiding something they really, really don't want us to see.
Why doesn't the SEC just give Congress what it wants? Maybe there's a good reason. But I don't see it. It seems like they're hiding something. Bear Sterns is dead. Soon they'll be part of JP Morgan. What is the SEC protecting? Is it their ability to run investigations in a confidential manner? But it's all a moot point now.
I'm puzzled by the SEC drawing this line in the sand. And I don't think it's comforting to know that some things need to be kept hidden. There's too much that we don't know. Like how many credit default swaps are sitting out there waiting to create even more havoc in the credit markets. This is the time to open the windows and let the sun shine. Unless, of course, they're hiding something they really, really don't want us to see.
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