As You Might Expect

The SEC has disclosed that more than 50 percent of private equity firms it has audited have engaged in serious infractions of securities laws.

So they’ve told them to clean up their act. No prosecutions or penalties, of course, because the SEC officials want to preserve their promised lucrative sinecures at these firms when they leave the SEC. Despite the fact that they have been caught stealing from public pension funds. Not a problem.

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