huskerbob

After a series of high-profile failings, the SEC is creating a team of specialists to focus on fighting fraud. The idea is a major shift for the SEC, which traditionally has relied on enforcement personnel who were generalists.

The SEC is going to fight fraud? This IS news! A common refrain of people who have been ringing alarm bells on suspected ponzi schemes is that their warnings are ignored by the SEC.
As a hilarious aside, here is a quote from the investigator who gave the all-clear to Madoff in 2006: "If someone provides you with the wrong set of books, I don't know how you find the real books." She is shocked that a criminal would give her phony accounting to look at! No fraud will be uncovered unless the company provides the investigator with the documentation of their fraudulent activities!
She "was shocked" to learn of the $50 billion fraud. You can't make this stuff up!