Securities and Exchange Commission faces heat from Democrats over settlements
Source: washington post
The Securities and Exchange Commission, which polices corporations, can usually count on support from Democrats and a rougher reception from Republicans. But, on Thursday, the agency found an issue on which its traditional friends are its critics and its traditional critics are its friends.
At a House hearing, Republican lawmakers defended the agency against complaints that it lets wrongdoers off the hook too easily when it routinely allows them to settle charges without admitting wrongdoing.
Democrats said they were worried that such settlements could send the wrong message, allowing corporations to treat SEC enforcement actions as just another cost of doing business.
The issue has become a flash point in the debate over who is to blame for the financial crisis and whether the wrongdoers are being held accountable.
Read more: http://www.washingtonpost.com/business/economy/securities-and-exchange-commission-faces-heat-from-democrats-over-settlements/2012/05/17/gIQAajEGXU_story.html
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