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An external report has criticized former SEC inspector general David Kotz for breaching ethics...
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Sunday, October 7, 2012, 5:53 AM ETAn external report has criticized former SEC inspector general David Kotz for breaching ethics rules by supervising investigations that involved people with whom he had "personal relationships." The probes include one into the SEC's failure to catch Bernard Madoff. However, SEC bete noire Charles Grassley points out that the report found that the watchdog's audit and investigative work "was not compromised."
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Put another way how is an investigation going to bring criminal charges against the friends of the supervisory official? The presumption is that everyone is innocent because they are friends.
Really now.
Bureaucrats and other government employees make more than those they serve, as do the politicians, and the financially elite already do. The last society that had this structure collapsed....... it was called the USSR. Where the best "regular" jobs were in the government and held by communist party members only. The politicians were basically the elite of the party and had positions for life (unless they did something stupid like actually question the party's position on anything), and their friends/relatives were put in the best positions in industry and those industries were monopolies. And corruption abounded.
We've caught up. Corruption is everywhere - its just we "legalize" it here in the USA. So its ok to buy politicians. Its legal to give jobs to their husbands and wives and kids and cousins and in-laws. And in return its legal to grant permits, build roads, pass laws limiting competition, grant contracts, etc, etc, etc.
We have big government protecting big business and the elite. And day by day our freedoms are taken away in the name of... safety... entitlement... fairness... etc, etc. Each statement on its own sounds nice and comforting. But what isn't comforting is the ever expanding reach of government into every area of our lives and into every area of our economy.
One of my penultimate memories is off Dodd and Schumer pretend 'grilling' the great tanned one ( Mazillo) when all along Dodd knew that he had been given special treatment by Mazillio in the acquisition of a home mortgage. How can anyone with a moral compass not excuse themselves from such events?
After we suffer the ultimate economic collapse, these things will become obvious to everyone during the post mortum. Wouldn't it be tremendous if we had leadership now that could step out ahead of the crowd, or is the rot that deep in Washington that anyone attempting to be a Serpico would literally be snuffed by sundown?