Securities and Exchange Commission
ORG
Securities and Exchange Commission
The more or less final act came earlier this month, when Bear Stearns agreed to a settlement with the Securities and Exchange Commission under which it would pay $250 million to investors for its alleged fund-related transgressions. As is typical in S.E.C. settlements, Bear Stearns agreed to pay all this money without admitting or denying the allegations. The S.E.C. needs to make Wall Street firms wince when they do something wrong.