Tuesday, March 31, 2015

Feds go after Lynn Tilton for stuff they know she has been doing since 2003...

Today's little slap in the face of liberals is the news that Lynn Tilton, outspoken and "flamboyant" investment magnate, has been charged with fraud by the formerly toothless and sleeping SEC.  She is accused of "concealing" poor performance (AKA lying to her clients/cooking the financial statements) of high risk loans.  The article says that she has been doing this since 2003 and that such behavior has resulted in "wrongly collection" of $200 mn.  I think this is the end of Lynn Tilton's money management career.

Inquiring minds should be wondering why the SEC finally decided to go after her only now?  Why not 10 years ago when the behavior first started?  Why are all these skeletons being dragged out of the closet not just for Tilton but for many who once thought they were untouchable?

Oh yeah, the article makes a point out of telling us that she is 55 years old as if that has any bearing on the news...

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