Market Currents
Tuesday, September 29, 2009
1:36 PM
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The SEC's inspector general issues a 46-page report on fixing the enforcement division, addressing how the agency dropped the ball on complaints about Bernard Madoff's scheme. The recommended changes include adding reviewers to complaints and documenting why they were or weren't acted upon, and ensuring that investigative teams have sufficient experience.
This news story has 3 comments:
Corrective action would consist of rehabilitating the victims of this Khafkaesque scenario, in the meantime bringing in some reinforcements and telling them to go after the Wall Street regulars, the manipulators who are gaming the system.