Just two months into her tenure as head of the Securities and Exchange Commission, Mary Jo White is making waves by questioning the agency’s long-standing policy of not requiring admissions of guilt when settling with financial wrongdoers. For many Americans, the 2008 financial crisis is the defining tragedy of their lives, as it’s resulted in millions of foreclosures, mass unemployment, and trillions of dollars in lost wealth. Yet despite all this suffering, only one senior banker – Kareem Serageldin — has been criminally convicted of mortgage-security related fraud, and the same multinational banks that dominated the landscape before the crisis still reign supreme, except now they’re bigger and more powerful than ever.
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Network for Investor Action and Protection Statement Following is a press statement from Ron Stein, President of the Network for Investor Action and Protection on the Pascrell tax relief bill: “This important bill provides common-sense and badly needed relief for theft victims who paid real taxes on unrealized gains.” About NIAP (www.investoraction,org) Ron Stein, President of the Network for Investor Action and Protection (NIAP), Statement on Introduction of Equitable Treatment of Investors Act: NIAP PRESIDENT RON STEIN STATEMENT WELCOMING LEGISLATION TO PROTECT INVESTORS DEFRAUDED BY BERNIE MADOFF “I welcome Representative Scott Garrett’s introduction of the Equitable Treatment of Investors Act, which will protect victims that have been defrauded by Bernie Madoff’s Ponzi scheme in the face of the Securities Investment Protection Corporation’s failure to do so.” “Customers of registered brokers FOR IMMEDIATE RELEASE NIAP QUESTIONS TRUSTEE ON SUING INNOCENT INVESTORS The Network for Investor Action and Protection today asked the Securities Investor Protection Corporation (SIPC) and the Trustee overseeing the Madoff Ponzi liquidation to explain why innocent investors are being targeted with clawback actions despite a series of lawsuits against guilty parties that should make innocent investor clawbacks unnecessary. FOR IMMEDIATE RELEASE Contact: Ron Bonjean / Phil Singer NIAP HELPS INVESTORS INITIATE TORT CLAIMS AGAINST SEC AND IRS The Network for Investor Action and Protection (NIAP) today announced a large-scale effort to help Madoff investors initiate legal actions against the Securities and Exchange Commission (SEC) and the Internal Revenue Service (IRS) for negligence, FOR IMMEDIATE RELEASE NIAP TO COURT: ‘INCOMPREHENSIBLE’ SIPC TRUSTEE MOTION
The Network for Investor Action and Protection (NIAP) filed a letter with US Bankruptcy Court in the Southern District of New York The Network for Investor Action and Protection (NIAP) today called on the Securities Investor Protection Corporation (SIPC) to make all records related to ongoing liquidation proceedings stemming from the Madoff Ponzi scheme available to his victims. Click here for full [...] FOR IMMEDIATE RELEASE LONG OVERDUE REVIEW OF THE SECURITIES INVESTOR PROTECTION CORPORATION RECEIVES HEARING; NIAP URGES FINANCIAL SERVICES COMMITTEE TO KEEP PRESSURE GOING LONG Overdue Review of the Securities Investor Protection Corporation TO FINALLY GET HEARING NEXT WEEK With Congress poised to examine how the Securities Investor Protection Corporation (SIPC) can better protect investors, the Network for Investor Action and Protection (NIAP) urged the House Financial Services Committee to closely scrutinize the agency at a hearing |
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