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I gave both lawyers a chance to refute anything in the Project and Senate reports and asked West to explain how he landed at Latham & Watkins, but heard nothing.

The sordid story does have a happy ending — of sorts. Investigations by two Senate committees and the agency’s own internal watchdog vindicated Aguirre and slammed the securities commission for not pursuing Mack diligently. Working on his own, Aguirre gave more insider trading evidence on Pequot to the red-faced securities agency. Reluctantly, it banned Samberg from the business, fined him and Pequot $28 million (a pittance since Samberg was worth $15 billion), and paid Aguirre $755,000 in a lawsuit settlement. Pequot closed down. But Mack, White, Berger, and West are doing swimmingly. And so, unfortunately, is the Securities and Exchange Commission — even after Friday the 13th.

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Comments

Twister June 3, 2011 @ 6:20 p.m.

Sort of sorted, but not sorted out, at least of the sort that can be called well-sorted. It sorta makes you wonder, don't it?

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Don Bauder June 4, 2011 @ 10:05 p.m.

These relationships are convoluted. Everything is covert. Communication is by winks and nods. It's not easy to sort out the sordid. Best, Don Bauder

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Twister June 6, 2011 @ 5:01 p.m.

Yup, y' got yer work cut out for ya alright.

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Don Bauder June 6, 2011 @ 5:12 p.m.

It's like doing a New York Times crossword puzzle -- fun. Best, Don Bauder

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Don Bauder June 6, 2011 @ 11:47 p.m.

Solving the revolving door phenomenon at the SEC, and bringing tough regulation to the securities industry, will be a tough nut to crack -- much harder than even the Saturday NY Times puzzle. (The Sunday one is easy next to the Saturday one.) Best, Don Bauder

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SurfPuppy619 June 6, 2011 @ 11:19 p.m.

Gov regulation of the financial sector is a joke, a joke that is going to kill the county.

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Don Bauder June 6, 2011 @ 11:48 p.m.

I afraid you are right. The Dodd-Frank purported reform act is definitely a joke. Money talks. Why must it nauseate? Best, Don Bauder

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