stonebluff

SEC Rewards GE Accounting Fraud

This is an odd sort of justice. Officers at GE sin, shareholders pay the penalty. SEC knows it's hard to convict the real culprits, but also knows that what GE's people have done is shady enough that SEC can shake them down. SEC in effect extorts shareholders' money from GE, and becomes complicit in a new sin. Nobody even admits there's anything wrong! Wow!