To the editor:
What would our reaction be if a thief who, when caught stealing by the police, paid a small fine, did not admit to committing the crime and, over the years, repeatedly stole? Well, such is the case with 51 financial institutions (as reported in the NY Times), some of which are the largest in the country, that for a period of 15 years have been caught by the Securities and Exchange Commission repeatedly committing fraud, not admitting it and paying a relatively small fine. And what is worse, the government has no power to really stop the repeated fraud.
In his State of the Union speech, President Obama called on Congress to enact legislation to toughen laws that will give the SEC the ability to punish repeat violators of antifraud laws. However, there is no chance that the Republicans will allow Congress to pass such legislation.
All the more reason to elect Elizabeth Warren to the Senate. She has been one of the strongest advocates for the consumer public. The Republicans, who seem to be the protectors of corporations — even those that may commit fraud — do not want to have her advocating for the public in the Senate. We are fortunate to have her running.
Alfred Moskowitz
Newburyport
Daisy Sizzles in Sexy Swimwear
Officers Use Deadly Force on Mountain Lion in Santa Monica
Lea Michele Shows Major Skin
8 Hurt in Oklahoma Shooting After NBA Playoff
Why Cee Lo Thinks 'The Voice' is So Popular
Burlesque New Orleans
Mike Posner Talks Sneakers: Bamboozle 2012
Howard Stern Makes Kid Cry on AGT
Neighbor Feud Results in Dog Poop in Mailbox
Tiger's Ex-Wife Bares Her Bod
VIDEO | Zoo Chimp Charges Children
Child locked in washing machine after father put him there
Incubus On Working With Odd Future: Bamboozle 2012
'PLL' First Look Clip!
Fired for being 'too hot'
Ashley Olsen is a Bikini Babe
'Part of Me' Details 'Bumpy' Marriage, Says Katy
Music downloader owes nearly $700K in fines
Kardashian Sisters Pose in Lingerie
Raw Video: Man Saved After Niagara Falls Plunge
