Triangulating Law, Data & Ethics
With today’s SCOTUS decision in Free Enterprise Fund v. PCAOB, the Public Accounting Oversight Board (“PCAOB”) survives but with less swagger and self-importance than before. This decision holding unconstitutional the “dual for-cause limitation” on the President’s ability to fire PCAOB members leaves the PCAOB’s form intact but downgrades its political independence.
Lurking in the Senate version of HR 4173 , the so-called Wall Street Reform and Consumer Protection Act of 2009, is a juicy chunk of pork for the global warming lobby: the commissioning of a “carbon markets” study to be conducted by an “interagency working group” that includes Chairs of the CFTC, SEC and FERC. […]
Not Guilty! Congratulations to Ralph Cioffi and Matthew Tannin on their acquittal, Tuesday, on securities fraud charges. Responding, in June 2008, to pontification by the SEC on the arrests of Cioffi and Tannin (see video flashback, below)… …I pretty much nailed the eventual outcome of these specious, politically motivated indictments in legal and market terms: […]
