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US Fined Wall Street $20 Billion Over Last Five Years, Only Collected About Half

Added 05-21-19 01:42:02pm EST - “SEC reportedly depends on other agencies to force payments” - Infowars.com


Posted By TheNewsCommenter: From Infowars.com: “US Fined Wall Street $20 Billion Over Last Five Years, Only Collected About Half”. Below is an excerpt from the article.

Wall Street companies have failed to pay a significant amount of the billions in fines the Securities and Exchange Commission (SEC) handed down in recent years.

The SEC collected 55% of the $20 billion in enforcement fines established through court decisions or settlements over the five fiscal years that ended in September 2018, The Wall Street Journal reported. Previous years did not fare much better, with the SEC collecting 60% of the $14.6 billion in fines handed down from 2009 through 2013.

Fiscal year 2018 proved to be a remarkably unfruitful year for the commission: 28% of nearly $4 billion was collected, marking the lowest year in a decade.

The low rates exemplify the difficulties besetting Wall Street’s main watchdog. The SEC can levy fines on companies. However, it does not have the authority to seize a debtor’s assets or property in order to force payment. The agency must depend on the courts or filing liens against defendants that owe money, a process that can take years — if ever — to extract fines. Individuals who go to prison for criminal charges, or those who lost all their funds in a Ponzi scheme, may never end up paying.

Dr. Nick Begich breaks down the booming middle class in Asia and exposes how the west’s economy has been systematically transferred eastward to allow for this financial boom, especially in China.


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