Tollbooth on the Bankster Turnpike: Ripping the SEC

by
Abby Zimet

In a great barnburner of a retirement speech after 25 years at the Securities and Exchange Commision, longtime trial attorney James Kidney blasted the supposedly regulatory agency for having little to no interest in “afflicting the comfortable and powerful” and for "picking on the little guys, the weak and dubious targets" while allowing Goldman Sachs and other Wall Street shysters to get away with pretty much everything. Often citing the missing concepts of integrity and "kindness" at his former workplace, Kidney charged timid bosses, there merely to "punch their ticket" through a revolving door to Wall Street, with spending millions "promoting even our emptiest achievements" by using misleading statistics that are "a cancer."

"The SEC has become “an agency that polices the broken windows on the street level and rarely goes to the penthouse floors...On the rare occasions when enforcement does go to the penthouse, good manners are paramount...For the powerful, we are at most a tollbooth on the bankster turnpike.”

 

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