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Post by jcline on Aug 23, 2006 9:22:10 GMT -4
Senator says SEC impeding probe By Bloomberg News | August 23, 2006 US Senator Charles Grassley told Securities and Exchange Commission chairman Christopher Cox he's concerned that unnecessary rules are slowing a Congressional probe into whether political influence derailed an investigation into hedge fund Pequot Capital Management Inc. ``I have serious concerns about indications that the SEC plans to impose unnecessary delays on Congress' ability to get to the bottom of this important matter," Grassley, an Iowa Republican, wrote in an Aug. 21 letter to Cox that was released yesterday. Grassley said he was told by SEC associate general counsel Richard Humes that documents couldn't be turned over to members of Congress without approval from the agency's five commissioners. Humes said the earliest this could happen was Aug. 29, at the commission's next scheduled meeting. Grassley asked Cox to waive the requirement. Gary Aguirre, a lawyer fired by the SEC last year, told the Senate Judiciary Committee in June he was denied permission to question Morgan Stanley chairman John Mack. Aguirre was investigating Westport, Conn.-based Pequot for insider trading, and Mack was briefly chairman of the $7 billion fund. Senate investigators are looking into whether the SEC suspended its investigation of Pequot for political reasons. ``We are committed to cooperate with the Committee on Finance and its staff to satisfy them as to the integrity of our investigative process," SEC spokesman John Heine said. Grassley, chairman of the Senate Finance Committee, and Senator Arlen Specter, a Pennsylvania Republican, and head of the Judiciary Committee, asked Cox for documents related to the Pequot investigation in a letter dated Aug. 2. In yesterday's letter, Grassley also chided SEC staff for refusing to disclose information about Pequot on the basis that they can't discuss ongoing investigations. ``These investigations were closed or inactive at the time Congress started its inquiry," Grassley said. ``Reopening these investigations after Congress begins to ask questions and then citing the fact that they are active as a pretext to deny or delay congressional requests is unacceptable." SEC officials questioned Mack this month about the sale of Heller Financial Inc. and trading in the company's shares by Pequot, a person familiar with the matter said Aug. 2. Mack said he had no advance knowledge of General Electric Co.'s July 30, 2001, purchase of Heller, the person said. www.boston.com/business/globe/articles/2006/08/23/senator_says_sec_impeding_probe/
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Post by friscotrader™ on Aug 23, 2006 9:57:17 GMT -4
SEC needs a probe alright.............right in the keister
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Post by inthenow1 on Aug 23, 2006 10:36:36 GMT -4
SEC needs a probe alright.............right in the keister " With a ten foot pole! "
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cmkxer
Diamond Explorer
Posts: 58
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Post by cmkxer on Aug 23, 2006 12:30:08 GMT -4
Aguirre should be SEC Chairman. He'll clean them out!
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Post by jannikki on Aug 23, 2006 16:28:34 GMT -4
Senator says SEC impeding probe By Bloomberg News | August 23, 2006 US Senator Charles Grassley told Securities and Exchange Commission chairman Christopher Cox he's concerned that unnecessary rules are slowing a Congressional probe into whether political influence derailed an investigation into hedge fund Pequot Capital Management Inc. ``I have serious concerns about indications that the SEC plans to impose unnecessary delays on Congress' ability to get to the bottom of this important matter," Grassley, an Iowa Republican, wrote in an Aug. 21 letter to Cox that was released yesterday. Grassley said he was told by SEC associate general counsel Richard Humes that documents couldn't be turned over to members of Congress without approval from the agency's five commissioners. Humes said the earliest this could happen was Aug. 29, at the commission's next scheduled meeting. Grassley asked Cox to waive the requirement. Gary Aguirre, a lawyer fired by the SEC last year, told the Senate Judiciary Committee in June he was denied permission to question Morgan Stanley chairman John Mack. Aguirre was investigating Westport, Conn.-based Pequot for insider trading, and Mack was briefly chairman of the $7 billion fund. Senate investigators are looking into whether the SEC suspended its investigation of Pequot for political reasons. ``We are committed to cooperate with the Committee on Finance and its staff to satisfy them as to the integrity of our investigative process," SEC spokesman John Heine said. Grassley, chairman of the Senate Finance Committee, and Senator Arlen Specter, a Pennsylvania Republican, and head of the Judiciary Committee, asked Cox for documents related to the Pequot investigation in a letter dated Aug. 2. In yesterday's letter, Grassley also chided SEC staff for refusing to disclose information about Pequot on the basis that they can't discuss ongoing investigations.``These investigations were closed or inactive at the time Congress started its inquiry," Grassley said. ``Reopening these investigations after Congress begins to ask questions and then citing the fact that they are active as a pretext to deny or delay congressional requests is unacceptable." SEC officials questioned Mack this month about the sale of Heller Financial Inc. and trading in the company's shares by Pequot, a person familiar with the matter said Aug. 2. Mack said he had no advance knowledge of General Electric Co.'s July 30, 2001, purchase of Heller, the person said. www.boston.com/business/globe/articles/2006/08/23/senator_says_sec_impeding_probe/Damn, aren't they effective! I receive this same BS typical response everytime I raise an issue with them. "We can neither confirm or deny an ongoing investigation". Well, Chairman Cox, you and your pitiful excuse for a staff can kiss my ....and like it! We know the SEC has dirty hands....and so does the Senate. Clean it up or get out!!! There is no tolerance left for bureaucracy when investors are being robbed by a rigged system on a daily basis.
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Post by BigPuddin on Aug 23, 2006 17:24:15 GMT -4
Senator says SEC impeding probe By Bloomberg News | August 23, 2006 US Senator Charles Grassley told Securities and Exchange Commission chairman Christopher Cox he's concerned that unnecessary rules are slowing a Congressional probe into whether political influence derailed an investigation into hedge fund Pequot Capital Management Inc. ``I have serious concerns about indications that the SEC plans to impose unnecessary delays on Congress' ability to get to the bottom of this important matter," Grassley, an Iowa Republican, wrote in an Aug. 21 letter to Cox that was released yesterday. Grassley said he was told by SEC associate general counsel Richard Humes that documents couldn't be turned over to members of Congress without approval from the agency's five commissioners. Humes said the earliest this could happen was Aug. 29, at the commission's next scheduled meeting. Grassley asked Cox to waive the requirement. Gary Aguirre, a lawyer fired by the SEC last year, told the Senate Judiciary Committee in June he was denied permission to question Morgan Stanley chairman John Mack. Aguirre was investigating Westport, Conn.-based Pequot for insider trading, and Mack was briefly chairman of the $7 billion fund. Senate investigators are looking into whether the SEC suspended its investigation of Pequot for political reasons. ``We are committed to cooperate with the Committee on Finance and its staff to satisfy them as to the integrity of our investigative process," SEC spokesman John Heine said. Grassley, chairman of the Senate Finance Committee, and Senator Arlen Specter, a Pennsylvania Republican, and head of the Judiciary Committee, asked Cox for documents related to the Pequot investigation in a letter dated Aug. 2. In yesterday's letter, Grassley also chided SEC staff for refusing to disclose information about Pequot on the basis that they can't discuss ongoing investigations. ``These investigations were closed or inactive at the time Congress started its inquiry," Grassley said. ``Reopening these investigations after Congress begins to ask questions and then citing the fact that they are active as a pretext to deny or delay congressional requests is unacceptable." SEC officials questioned Mack this month about the sale of Heller Financial Inc. and trading in the company's shares by Pequot, a person familiar with the matter said Aug. 2. Mack said he had no advance knowledge of General Electric Co.'s July 30, 2001, purchase of Heller, the person said. www.boston.com/business/globe/articles/2006/08/23/senator_says_sec_impeding_probe/Perhaps an email or 2 or 40,000 from our little shareholder base thanking the Senator for fighting the good fight!!!! grassley.senate.gov/index.cfm?FuseAction=Contact.HomeMy will go out today! -Puddin Mine went out just now. I will let you know if he responds. Senator Grassley,
As an American citizen I want to humbly thank you for writing the letter to SEC chairman Cox concerning the hedge fund investigation by Gary Aguirre.
I particularly enjoyed the following excerpt ``These investigations were closed or inactive at the time Congress started its inquiry," Grassley said. ``Reopening these investigations after Congress begins to ask questions and then citing the fact that they are active as a pretext to deny or delay congressional requests is unacceptable."
And I anxiously await his response. I also think that is probably not the only "unacceptable" behavior by the SEC. I think close scrutiny of Mr. Aguirre's termination is also in order.
Thanks for taking the time to read this.
If I ever move to Iowa, I will be proud to call you my senator. As a resident of Georgia USA and an owner of stocks and mutual funds, I am proud to call you my voice to the SEC. I hope that you and senator Specter continue to fight for justice and a level playing field for the average citizen.
Sincerely,
BigPuddin(except I put my real name)
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Post by jannikki on Aug 23, 2006 19:38:33 GMT -4
Senator says SEC impeding probe By Bloomberg News | August 23, 2006 US Senator Charles Grassley told Securities and Exchange Commission chairman Christopher Cox he's concerned that unnecessary rules are slowing a Congressional probe into whether political influence derailed an investigation into hedge fund Pequot Capital Management Inc. ``I have serious concerns about indications that the SEC plans to impose unnecessary delays on Congress' ability to get to the bottom of this important matter," Grassley, an Iowa Republican, wrote in an Aug. 21 letter to Cox that was released yesterday. Grassley said he was told by SEC associate general counsel Richard Humes that documents couldn't be turned over to members of Congress without approval from the agency's five commissioners. Humes said the earliest this could happen was Aug. 29, at the commission's next scheduled meeting. Grassley asked Cox to waive the requirement. Gary Aguirre, a lawyer fired by the SEC last year, told the Senate Judiciary Committee in June he was denied permission to question Morgan Stanley chairman John Mack. Aguirre was investigating Westport, Conn.-based Pequot for insider trading, and Mack was briefly chairman of the $7 billion fund. Senate investigators are looking into whether the SEC suspended its investigation of Pequot for political reasons. ``We are committed to cooperate with the Committee on Finance and its staff to satisfy them as to the integrity of our investigative process," SEC spokesman John Heine said. Grassley, chairman of the Senate Finance Committee, and Senator Arlen Specter, a Pennsylvania Republican, and head of the Judiciary Committee, asked Cox for documents related to the Pequot investigation in a letter dated Aug. 2. In yesterday's letter, Grassley also chided SEC staff for refusing to disclose information about Pequot on the basis that they can't discuss ongoing investigations. ``These investigations were closed or inactive at the time Congress started its inquiry," Grassley said. ``Reopening these investigations after Congress begins to ask questions and then citing the fact that they are active as a pretext to deny or delay congressional requests is unacceptable." SEC officials questioned Mack this month about the sale of Heller Financial Inc. and trading in the company's shares by Pequot, a person familiar with the matter said Aug. 2. Mack said he had no advance knowledge of General Electric Co.'s July 30, 2001, purchase of Heller, the person said. www.boston.com/business/globe/articles/2006/08/23/senator_says_sec_impeding_probe/Perhaps an email or 2 or 40,000 from our little shareholder base thanking the Senator for fighting the good fight!!!! grassley.senate.gov/index.cfm?FuseAction=Contact.HomeMy will go out today! -Puddin Mine went out just now. I will let you know if he responds. Senator Grassley,
As an American citizen I want to humbly thank you for writing the letter to SEC chairman Cox concerning the hedge fund investigation by Gary Aguirre.
I particularly enjoyed the following excerpt ``These investigations were closed or inactive at the time Congress started its inquiry," Grassley said. ``Reopening these investigations after Congress begins to ask questions and then citing the fact that they are active as a pretext to deny or delay congressional requests is unacceptable."
And I anxiously await his response. I also think that is probably not the only "unacceptable" behavior by the SEC. I think close scrutiny of Mr. Aguirre's termination is also in order.
Thanks for taking the time to read this.
If I ever move to Iowa, I will be proud to call you my senator. As a resident of Georgia USA and an owner of stocks and mutual funds, I am proud to call you my voice to the SEC. I hope that you and senator Specter continue to fight for justice and a level playing field for the average citizen.
Sincerely,
BigPuddin(except I put my real name)
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Post by meeke on Aug 23, 2006 23:39:39 GMT -4
What's that SMELL ah~~ never mind, it's just the SEC at work again JIM
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Post by kranker on Aug 23, 2006 23:46:00 GMT -4
Pinned for while
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Post by Andy Carter™ on Aug 24, 2006 17:59:13 GMT -4
Go Grassley!!
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Post by seagull on Aug 25, 2006 10:01:07 GMT -4
will be interesting to see how this all turns out
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Post by soonerlew on Aug 26, 2006 10:34:49 GMT -4
>:(Puddin", I sent mine...........Actually I copied and also asked him to contact Sen Tom Coburn as I had sent him numerous emails................Hope we see some results........ ;D
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Post by canudigit on Aug 26, 2006 19:26:03 GMT -4
I hope so too Soonerlew.Unfortunately i don't it.
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