SEC Retiring Atty Calls Agency 'Fearful' Of Wall Street

By Kurt Orzeck (April 8, 2014, 10:17 PM EDT) -- A departing U.S. Securities and Exchange Commission attorney used a recent retirement speech to blast his bosses for being too "tentative and fearful" in their enforcement of Wall Street banks and instead "picking on the little guys," according to Tuesday reports.

James A. Kidney, a trial lawyer who joined the commission in 1986 — and, according to SEC documents, pursued securities fraud suits against Goldman, Sachs & Co. — blamed the agency's "revolving door" for a paucity of actions against big banks, according to unconfirmed remarks published by the New York Times' DealBook.

Kidney reportedly accused some of his former superiors...

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