William Michael Cunningham to file "Friend of the Court" Brief in the Supreme Court

Jan. 23, 2013 - PRLog -- Markets cannot survive elevated levels of fraud. They simply break down, and fail to perform. Developments in the financial marketplace have been an area of interest for more than twenty years.

Now, there is a case before the Supreme Court that will allow every person responsible for the recent financial crisis to escape punishment. The case is Gabelli v. Securities and Exchange Commission and "a decision is expected in the court's upcoming term, which ends in June."

The case hinges on this: Did the U.S. Securities and Exchange Commission wait "too long to bring a civil case accusing (the fund manager) of letting a client engage in..market timing?" This, according to the former Attorney General of New York, “is like allowing betting on a horse race after the horses have crossed the finish line.”

And, it results in a real advantage: Mr. Gabelli made "185 percent, 160 percent, and 73 percent, respectively..the rate of return for all other (fund) shareholders over the same period was, at best, negative 24.1 percent."

In order to file, Mr. Cunningham had to obtain the permission of the Solicitor General of the United States. For more information, please see: http://www.indiegogo.com/supremecourt