""They are not going to find anything at the big firms most likely, but they are probably trying to get information on the small guys who don't have big legal departments."
I'm frikkin' outraged at this economic shit, readers!!!!
"Firms hurry to comply with SEC subpoenas" by Reuters | July 17, 2008
Dozens of hedge funds and broker-dealers are scrambling to send reams of e-mails and trading records to regulators probing suspected stock price manipulation, several sources at hedge funds said.
The Securities and Exchange Commission recently sent subpoenas to more than 50 firms concerning trading in investment banks Bear Stearns, which was rescued in March, and Lehman Brothers Holdings Inc., whose shares have been hurt badly by rumors about its financial health, said four sources, who have seen the documents but were not authorized to speak about them publicly.
Among those receiving subpoenas were investment bank Goldman Sachs Group Inc. and prominent hedge fund firms SAC Capital Advisors LLC and Citadel Investment Group.
Spokesmen for the two hedge funds declined to comment, and calls to Goldman Sachs were not immediately returned. SEC spokesman John Nester declined to comment about the investigation or discuss which hedge funds and banks received subpoenas.
One manager with a prominent firm who asked not to be identified because he was not authorized to speak publicly about the matter:"They are not going to find anything at the big firms most likely, but they are probably trying to get information on the small guys who don't have big legal departments and compliance officers and who might be more tempted to play fast and loose."
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Oh, so this is just MORE HOT FART MIST FOOLEYS, 'eh?!
Just a whole bunch of huffing and puffing so the public will think this government is actually doing something!!
