Interesting op-ed from Jon Macey, which argues that:
Until the SEC and the courts begin to take an interest in learning whether fraud was rampant on Wall Street then and is now, we will never know the extent to which Wall Street is to blame for the financial crisis.
Rakoff’s decision is a watershed event for the capital markets. It is a significant victory for the ideals of the Occupy Wall Street Movement. And it just might be the first step on to restoring accountability to both Wall Street and the SEC.
Go read the whole thing.
