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By Deepa Seetharaman
March 2, 2009
Sagging Index no longer reflects what’s going on in the market, some say, Replacements? Google it, to start.
By Hans-Werner Sinn
March 2, 2009
Downward price spiral will actually boost the cost of capital for most companies. CFOS, take note.
By Ronald Fink
March 2, 2009
The latest bailout at AIG could be a preview of how the president will deal with Wall Street.
By Matthew Quinn
March 2, 2009
No corporate defaults. Big debt offerings. Percolating CP issuance. Things may be looking up in the capital markets.
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Madoff investor reportedly sues SEC for negligence
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December 23, 2008 10:23 AM ET
(Reuters)—An investor who lost nearly $2 million investing with Bernard Madoff has filed a claim against the U.S. Securities and Exchange Commission (SEC) alleging the agency was negligent in failing to detect an alleged decades-long fraud, the Wall Street Journal said.
Phyllis Molchatsky, a 61-year-old retiree from Valley Cottage, New York, is seeking $1.7 million in damages from the agency, the paper said.
The claim is believed to be the first attempt by an investor to recover lost money from regulators, according to the paper.
The SEC’s “statutory purpose is to protect the public interest,” Howard Elisofon, the lawyer representing Molchatsky, told the paper.
“We feel they fell down on the job in this instance,” Mr. Elisofon, who is also a former SEC enforcement attorney, told the paper.
The SEC could not be immediately reached for comment by Reuters.
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