Phil Cannella Crash Proof Retirement: Phil Cannella Probes Former Inspector General Why Corrupt Businesses Haven’t Been Shut Down – Phil Cannella Crash Proof Retirement

Phil Cannella Crash Proof Retirement

Phil Cannella Crash Proof Retirement – Phillip Cannella Crash Proof Retirement: Phil Cannella Crash Proof Retirement, Probes Former Inspector General of the SEC, H. David Kotz, for Answers as to Why Corrupt Businesses Haven’t Been Shut Down. Phil Cannella recently conducted a two-hour interview with the then Inspector General of the Securities and Exchange Commission, H. David Kotz, in which he set out to get answers to so many questions Americans have for our government. In particular, he probed Kotz on the Goldman Sachs case.

Phillip Cannella Crash Proof Retirement

Goldman Sachs had been found fleecing their investors to the tune of a billion dollars. When the SEC finally came in, they fined Goldman Sachs five million dollars, which was approximately half of the proceeds, and only a tenth of Goldman Sachs’ yearly profits. Phil Cannella wanted to know why the SEC will fine these companies, but not put them out of business, allowing them to continue doing what they do.

While Kotz explains that he didn’t bring the case against Goldman Sachs and doesn’t know the details of the case, he claims that the SEC doesn’t necessarily have a basis to put them out of business. He goes on to justify that the SEC has certain authorities, and those authorities include fining entities.

When Phil Cannella asked what happens to the five million dollar fine, Kotz replied saying he believes it goes to the treasury, and that there are certain occasions when the fine will fund certain SEC operations, depending on the penalties or the structure.

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