SEC has a mole in the SAC probe

According to the Wall Street Journal, it looks like the government has an informant in the SAC Capital Advisors probe involving billionaire Steven A. Cohen.

Six former SAC employees have been convicted or plead guilty to various charges.

David Sokol, ex-Buffett aide, gets a free pass from the SEC

That's the hard charging Securities and Exchange Commission (SEC). Not, the football conference.

David Sokol, who resigned in disgrace from Berkshire Hathaway in 2011, gets a completely free pass from the SEC.

Does it pay to know the right people, or what?

The Wall Street Journal said: "A spokesman for the SEC declined to comment."

Makes perfect sense.

Who is David Sokol and why should we care?

He's the guy the allegedly got a free pass for front running Berkshire shares (see article).

How did the alleged conversation possibly go down with Warren Buffett? See here.

Rogue UK Bank Hides $250 Billion in Iranian Transactions

Standard Chartered seemingly played a shell game of hide the Iranian money. But now it has been caught by the state of New York and others and now must suffer the consequences and pay up.

New York State's banking regulator said the UK bank Standard Chartered Bank, motivated by millions of dollars in fees, schemed with the Iranian government to launder $250 billion over the years.

update:

Aug. 8 (Bloomberg) -- Standard Chartered Plc Chief Executive Officer Peter Sands hit back at a New York regulator's claims the lender broke US sanctions, and challenged the accuracy of the watchdog's assertions.