Budd: Ball in SEC's court. In a brief conversation with the executive (whose world is bonds) I speak with on a range of matters occasionally, I mentioned the suspension. He expressed no surprise. He corrected me in saying the SEC doesn't suspend unless they find enough evidence that would hold up in litigation. So, arguably, they have something on them.

Separately, I hope GoldNApel come out of this "situation," not of their own making, unsullied.