The WSJ castigates the SEC for suing the Securities Investor Protection Corporation to reimburse...

|By:, SA News Editor

The WSJ castigates the SEC for suing the Securities Investor Protection Corporation to reimburse the victims of Allen Stanford's alleged $7B fraud while surely knowing that the SIPC doesn't provide general insurance against fraud. The lawsuit is just an attempt by the SEC to cover its huge failure to catch Stanford earlier, the WSJ argues.