Gretchen Morgenson and Louise Story have a great piece in The New York Times about the curious fact that the greatest financial collapse in many decades has produced no prosecutions of any leading figures anywhere.
Today’s AM fix was USD 1,330.75, EUR 1001.24 and GBP 864.79 per ounce. Friday’s AM fix was USD 1,327.75, EUR 998.76 and GBP 861.73 per ounce. Gold rose $1.50 or 0.11% on Friday and closed at $1,333.00/oz. Silver fell $0.17 or 0.84% and closed at $20.03. Gold and silver both gained last week 2.98% and 2.77% respectively.
There is not likely to be any new, sweeping investigations involving white-collar crime in the president's second term, but prominent cases involving the Foreign Corrupt Practices Act and the fallout from the 2008 financial crisis still loom.
WASHINGTON – President Barack Obama will nominate former federal prosecutor Mary Jo White to head the Securities and Exchange Commission, the White House said on Thursday, showing a desire to have a tough cop policing Wall Street.
White, the former U.S. attorney for the Southern District of New York who was known for prosecuting terrorists and mob figures, would become the third consecutive woman to hold the powerful post.
She would succeed current SEC Chairman Elisse Walter, who took over in December after predecessor Mary Schapiro stepped down.
Watch Collar Watch examines the limitations that the Supreme Court's ruling in the Skilling case puts on the prosecution of corporate executives for misconduct that does not involve lining their own pockets.