Ted Kaufman: “We've got to deal with this transparency problem. There's billions of dollars being traded and we do not know what's…”

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.

I do not want a single innocent person to go to jail or be criminally indicted for any reason.

A paper tiger that will fall apart the minute it is tested in a real life financial crisis