Housing shouldn’t look at any color but the color of money

Housing shouldn’t look at any color but the color of money

People with bad credit and bad habits should be squeezed out of housing

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Former LandCastle Title CEO owns NASCAR team, rubs elbows with PGA pros

Lawsuit alleges former LandCastle Title CEO embezzled $30 million

Nat Hardwick allegedly used funds for private jets, gambling
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SEC urgently working Dodd-Frank into reality

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Mary Schapiro, chairman of the Securities and Exchange Commission, said the steam and velocity of the rulemaking mandated by the sweeping financial reforms of the Dodd-Frank Act are sometimes "taking too long" or in other cases "not taking long enough." She was interviewed onstage by veteran journalist Charlie Rose Monday at the Securities Industry and Financial Markets Association conference. She said three-quarters of the more than 90 rules that the SEC is obligated to adopt as a result of the federal legislation have either been proposed or adopted. However, she said it will be well into next year by the time all of the derivative rules are done, and the rules requiring the SEC to comment on new credit agency rules should be done by the middle of 2012. "We've done a lot in the asset-back securities area. There's more to come there," Schapiro said. "We have a steady diet of finalizing rules. The issue for us now is to get the resources to operationalize those rules." She said there is a sense of urgency at the SEC, adding that the regulator restructured its enforcement program. Schapiro said the 2011 fiscal year had a record number of enforcement cases by the agency with about 80 cases coming out of the financial crisis. About 40 CEOs, chief financial officers and senior executives were named in those cases, according to Shapiro. "Our goal is to try to maximize enforcement capabilities. But the facts have to be on our side. It's irresponsible to pursue cases where we didn't think we could prevail. In every way this is a different agency than it was three years ago," she said. Schapiro deferred to the Department of Justice when asked why hardly any of those named in the cases has gone to jail. She said that wasn't under the jurisdiction of the SEC. Write to Justin T. Hilley. Follow him on Twitter @JustinHilley.

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