SEC Charges PA City with Fraud

Tuesday, 07 May 2013 | by Pat's Picks

The Wall Street Journal puts a surprising move by the SEC on its front page this morning. The regulator has charged the city of Harrisburg, Pennsylvania with fraud for failing to fully disclose its financial troubles to bond investors. It is the first time the SEC has come down on a municipality and experts say Harrisburg could be the first in a long line.

SOURCE: Wall Street Journal