Ted Kaufman: “I think this is all the ability to know you just cannot have two different sets of rules for people, and if you are…”

In the words of Ben Bernanke, America was on a course for 'a cataclysm that could have rivaled or surpassed the Great Depression.'

I think disclosure is really the root of a lot of these problems.

We have developed a cooperation program at the SEC where we can now offer reduced sanctions in exchange for insiders who come forward and provide us with information.

Widespread cheating and fraud of the sort that drove the speculative housing and derivatives securities bubbles are anathema to public confidence in the markets.