An ex-SEC lawyer says their report on how they blew the Madoff investigation focuses too much on staff and too little on supervisors.
The SEC inspector general said he was “befuddled” by her remarks.
The SEC sure spends a lot of time being incompetent and befuddled, don’t they? Ah well, it’s always better to be seen as incompetent than complicit, right?
Where are the banker prosecutions? Well, if the S&L scandals is any indication, then thousands will go to prison.
If they don’t then our system is hopelessly corrupt and social unrest will probably hit unheard-of levels. Just saying…