SEC's Khuzami Says Goodbye: 'I Was Tough On Wall Street'

SEC's top Keystone cop says goodbye.

Khuzami's exit interview with Bloomberg.

Must read piece on Khuzami's exit from Reuters Cate Long:

• Robert Khuzami: Master Distracter

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More from our story last week on Khuzami's departure.

Background

BUSTED: Robert Khuzami SEC Enforcement Chief

Keep in mind that Citigroup was hiding - lying about - $40 billion of sub-prime exposure, and the CFO at the time, Gary Crittenden was fined a paltry $100k for his role in this blatant rape of federal securities law.  Khuzami who once promised to be a tough cop on the beat, allegedly broke protocol, held a secret meeting with his good friend - counsel for Citi - then instructed SEC staff to go easy on Crittenden and Arthur Tildesley, the lying curbskank at the helm of Citi investor relations.

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What Did Khuzami Know About $12 Billion In SECRET Losses At Deutsche?

More evidence that the financial crisis is a legal crisis in drag has emerged with two stories about the hiring of top regulators after they failed to detect massive financial frauds that occurred right under their noses.  First is S.E.C. enforcement head Robert Khuzami.  Before becoming top cop at the S.E.C., he was Deustche Bank’s top lawyer while it was concealing $12 billion of losses in late 2008, according to people who worked there.

The gang that couldn't shoot straight.  What Wall Street crook wouldn't be afraid of Khuzami's intrepid team of crime fighters?

Comments

[DailyBail]

Answering criticism from some quarters that the SEC had gone easy on large U.S. banks, Khuzami said of the 150 people or entities charged in the wake of the financial crisis, “nearly 70 of those are CFOs, or CEOs.” “If the cases could be made they would be made,” said Khuzami, who argued that certain types of cases were more difficult to prove, with some of the questionable transactions occurring “two to three floors down from the executive suite.”

But in some instances, regulators were able to bring charges against top executives, said Khuzami, citing IndyMac Bancorp Inc., where executives were found liable for making negligent loans to home builders as the real estate market was deteriorating,

http://www.marketwatch.com/story/sec-enforcer-says-another-madoff-unlikely-2013-01-27

[DailyBail]

Talk about a poison pen.

The Securities and Exchange Commission’s top cop, with about a week left on the job, is taking time out from packing up to whack some of his toughest critics.

Robert Khuzami yesterday took aim at a Columbia University professor who chided the SEC’s head of enforcement for not suing enough high-ranking individuals at large financial institutions, choosing instead to settle with those companies.

Khuzami said in a blistering 1,500-word article in the National Law Journal that the SEC has charged a total of 102 individuals associated with the credit crisis, including high-level executives at Citigroup, Credit Suisse, Bear Stearns, and Fannie Mae and Freddie Mac.

It’s the second time in as many weeks that Khuzami has called out his critics by name.

Just before New Year’s Eve, the Brooklyn native blasted Simon Johnson, a professor at MIT Sloan School of Management, for a New York Times blog that said Khuzami’s hire was a “mistake” because of his former ties to Deutsche Bank.

http://www.nypost.com/p/news/business/bob_khuzami_master_blaster_5ORbKbNfqPQt0hb3TB66iL

[DailyBail]

Khuzami wrote a blistering response in the National Law Journal

http://www.law.com/jsp/nlj/PubArticlePrinterFriendlyNLJ.jsp?id=1202584164134&slreturn=20130015070505

[DailyBail]

Year-on-year house price gain hits six-year high

http://www.marketwatch.com/story/year-on-year-house-price-gain-hits-six-year-high-2013-02-05

[DailyBail]

WASHINGTON (MarketWatch) -- Rep. Maxine Waters, the California Democrat who's the ranking member of the House Financial Services Committee, asked the committee's chairman, Rep. Jeb Hensarling, for the committee to hold a hearing on the end of the independent foreclosure review program.

http://www.marketwatch.com/story/rep-waters-asks-for-hearing-on-foreclosure-review-2013-02-05

[john]

"Just before New Year’s Eve, the Brooklyn native blasted Simon Johnson, a professor at MIT Sloan School of Management, for a New York Times blog that said Khuzami’s hire was a “mistake” because of his former ties to Deutsche Bank."

Ha Ha HA HA HA ! Now I have to wipe that CARBON-ated beverage of my keyboard.

[DailyBail]

JPMorgan Fights SEC On Prop Trading, Volcker Rule

http://www.bloomberg.com/video/jpmorgan-pressed-by-sec-on-prop-trading-LmELgE_MRC6Eo7tuO0ygvQ.html

[SKINFLINT]

Khuzami is what shit looks like after the fan. He should have those little wipers on his glasses so he can wipe the shit off of them. Nothing like looking at the world through shit colored glasses. Will he be taking his sea men bespeckled desk with him or do I have him confused with some other pervert?

[SKINFLINT]

Maxine is absolutely one hundred percent correct, and any self respecting congressman should scream from the top of their lungs to look into this carnage.