SAC Capital Advisors' Guilty Plea Print
News Releases - Business & Economy
Written by Grassley Press   
Tuesday, 05 November 2013 10:50

Sen. Chuck Grassley of Iowa today made the following comment on the announcement that SAC Capital Advisors has agreed to plead guilty to insider trading violations.  Grassley, Ranking Member of the Judiciary Committee, has urged the Securities and Exchange Commission and the Justice Department to crack down on Wall Street wrongdoing.

“According to media reports, the last time a major Wall Street firm entered a guilty plea was 1989.   That makes you wonder what happened to prosecution over the last 24 years.  I’m looking for continued focus on strong prosecution, including admissions of wrongdoing.  Letting up on Wall Street wrong-doers is part of what led to the financial crisis in the first place.”