U.S. Securities and Exchange Commission

Just when you thought The BoJ would save the day with its miraculous intervention in carry trades, this happens:

• *BOEING SAID TO FACE SEC PROBE OF DREAMLINER AND 747 ACCOUNTING

And just like that, Boeing's stocks crashes 10% dragging the major US equity markets with it. So, just as a reminder, this is a firm which the US government (via Ex-Im Bank) lends billions of US taxpayer dollars... and now the SEC is accusing them of fraud.

As Bloomberg reports,

Submitted by Pam Martens and Russ Martens via WallStreetOnParade.com,

Last night ABC began its two-part series on the Bernie Madoff fraud. Viewers will be reminded about how investment expert, Harry Markopolos, wrote detailed letters to the SEC for years, raising red flags that Bernie Madoff was running a Ponzi scheme – only to be ignored by the SEC as Madoff fleeced more and more victims out of their life savings.

In a disappointingly familiar (and entirely unsurprising) case of deja vu, SEC Chair Mary Jo White raised the specter of Wall Street taking advantage of greedy mom-and-pop investors once again.

Via FactSet's Director of ETFs, Dave Nadig,

This week, the SEC gave us a belated Christmas present.  But what does it actually portend?

The present in question is an 88-page "Research Note" from the SEC's Division of Trading and Markets titled "Equity Market Volatility on August 24, 2015." It's an innocuous-enough title, but for us market-structure wonks, it's kind of a big deal.

Update: The SEC Folds:

• SEC PERMITS TEMPORARY SUSPENSION OF THIRD AVENUE REDEMPTIONS
• THIRD AVENUE WILL BE SUBJECT TO ONGOING SEC OVERSIGHT
• SEC SAYS IT REQUIRED FUND TO PUT IN PLACE INVESTOR PROTECTIONS

As Bloomberg reports, Third Avenue Management LLC received approval from U.S. regulators to temporarily suspend redemptions from its $788.5 million high-yield bond fund.