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Loan Modification
: Mortgage Lender Implode-o-MeterGaming CDS (non-)rules continues
By Implode-Explode Heavy Industries
In Wall Street?s Wild West, it?s OK to rob the stage coach because there?s no sheriff to enforce the law.
The Journal?s Kara Scannell has the story of defendants in an insider-trading case trying to get off on a technicality.* They claim swaps aren?t ?securities? and therefore the SEC has no jurisdiction.
Full post as published by Mortgage Lender Implode-o-Meter on March 31, 2010 (boomark / email).
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