Regulatory Violations Quotes

We have witnessed the most educated, successful, and monied professionals in the country put their companies - not to mention their own liberty - at risk by engaging in flagrant and foolhardy illegal conduct.

Research suggests that investment bankers are more prone to commit fraud when they feel the competitor at their heels.

… too big to jail

We have decriminalized Wall Street malfeasance.

Why should the court impose a judgment in a case in which the SEC alleges a serious securities fraud, but the defendant neither admits nor denies wrongdoing?

I agree that there are some bad apples on Wall Street. I spent about ten years exposing corporate and financial fraud for 'Barron's' magazine and I found a lot to write about.

Banks were already seen as greedy and arrogant. They have now reached the depths of humiliation in the wake of the LIBOR manipulation, PPI mis-selling, and bank swaps mis-selling.

The worst sense of security is a false one. It's hard for people to wrap their heads around the idea that those in charge - federal, state and local agencies - might be cheating the system. But, all too often, that is exactly what happens.

Something very worrying has been going on at Scotland Yard. We now know that in dealing with the phone-hacking affair at the 'News of the World,' they cut short their original inquiry; suppressed evidence; misled the public and the press; concealed information and broke the law. Why?

Individual bankers are rightly being investigated by the police. I and all colleagues in the chamber hope that if criminality is proven, they will go to jail and bear the same brunt of punishment as any other criminal.

Over the years, many in the public have become numb to news of financial corruption, partly because too many of these stories involve banker-on-banker crime.

The facts are the vice president's company that he was CEO of, that did business with sworn enemies of the United States, paid millions of dollars in fines for providing false financial information, it's under investigation for bribing foreign officials.

Some American companies operate in the gray area between legitimacy and outright fraud … where the accounting is being perverted.

Either Mitt Romney through his own words and his own signature was misrepresenting his position at Bain to the SEC, which is a felony, or he was misrepresenting his position at Bain to the American people.

Wells Fargo's internal review only covers unauthorized accounts dating back to 2011. News reports and court documents suggest these problems might have existed long before then. The 2013 'Los Angeles Times' articles led to the L.A. city attorney's office investigation into Wells Fargo's sales practices.

Because the sad fact is that the Enron Corporation and others manipulated with unfortunately great effect the energy market in the West Coast starting in 2000.

From coast to coast, the FBI and Securities and Exchange Commission have ensnared people not only at hedge funds, but at technology and pharmaceutical companies, consulting and law firms, government agencies, and even a major stock exchange.

The Justice Department needs to investigate how Goldman Sachs was able to steer things in such a manner through their former employees in the Bush administration, so that in the end Goldman's competitors have disappeared and Goldman is left standing.

During the Boom Years, it was so easy to lose sight of basic values. For example, there was lots of nonsense said and written about the so-called "New Economy." Some people said all economic laws have been overturned! Then all the problems developed. Corporations were heavily fined for illegalities. Many of their senior-level executives were indicted, convicted, and sent to prison.

First, a company cannot knowingly make misrepresentations and inaccurate statements before the Commission... It appears that Netflix made accusations of wrongdoing by ISPs, all the while knowing that its own practices were one of the causes of consumer video downgrading.

You learn to look the other way. If you go after all the corruption, you end up blowing up your own administration.

Theranos was a combination of fraud with hubris mixed with incompetence.

Yes! We finally captured Martha Stewart. You know, with all the massive and almost completely unpunished fraud perpetrated on the public by companies like Enron, Global Crossing, and Tyco we finally got the ring leader. Maybe now we can lower the nation's terror alert to periwinkle.

In the business world, we can point to instances when a lack of integrity has bankrupted entire companies - in sectors as different as finance, telecommunications, manufacturing, and energy.

What Enron was doing, what caused investors to embrace it in a rapture of baffled awe, was hiding debt.