SEC Creates Consolidated Supervised Entities Program Allowing Unlimited Investment Bank Leverage
The SEC establishes the Consolidated Supervised Entities (CSE) program under Chair William Donaldson, eliminating the 12-to-1 leverage limit that had constrained broker-dealers and investment banks since 1975. The program allows firms with over $15 billion in assets—Bear Stearns, Lehman Brothers, …
SEC
William Donaldson
Bear Stearns
Lehman Brothers
Merrill Lynch
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sec-deregulation
investment-bank-leverage
cse-program
systemic-risk
self-regulation
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