SEC to Struggling Cities: Watch What You Say
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  • bobby_b

    The SEC thinks it’s going to be suing politicians for telling untruths in speeches?
    They’re gonna need a bigger boat.

  • Douglas Levene

    The cost projections presented by the Administration in support of Obamacare would, if they had been published in a prospectus for a public securities offering, have resulted in fraud charges by the SEC. Projections can be the subject of fraud claims when they are based on assumptions that are known to be unreliable or false and the assumptions underlying those projections were both. Since the US Treasury was in the market selling securities at the time those projections were made public, is the SEC now going to go after the US Government for securities fraud? I think that criminalizing political speech – which is inevitably filled with puffery and false statements – is a dangerous road to travel.

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