No wonder they have so much trouble catching guys like Madoff. Clearly the problem is that SEC needs more funding and we need more regulations on the financial industry. LOL http://www.propublica.org/article/s...rn-ran-private-businesses-1219#When:17:01:11Z
The first thing I would do is fire the person who hired these flunkies. Secondly, we have a major problem here because we learned the lesson from Enron, it's the culture of the work environment. We should send sheriff flytiger over there to straighten them out.
Well we now have proof of what we have known for a long time, they have just been jerking off for a long time there at the SEC.
You can thank Bush Republicans for SEC incompetence. SEC knew about this crook 5 years ago. No one did anything because the Bush administration policy is to screw the middle class into serfdom.
...and then, when they were done with that, they jerked us off. I'll give you one I found out last week from a former Director of Sedona Corporation. There was a 300 page book referred to in a Deal.com article in 2001. Sedona had a fellow on the board. 81 year old Herb Sergeant (sp) was a commissioner at the SEC in the early 60's. It's like the Marines there, once a commissioner, always a commissioner. The way Sedona got in front of the SEC was Herb walked in and said, 'what the hell is going on here? " He actually walked the book, documenting a destroyed biotech Viragen, how the scheme was composed, how they blasted stocks with positive news - it was always there. Pitt saw it. And here we are seven years later. Sedona has had two positive actions on its behalf, and the SEC levied a staggering 1mm in fines at the Badian's. The company saw none of that, and is still being naked shorted. And now, Harvey has Kalamara Partners, works with Tabacco at Locatestock.com, and profits as he postulates. It's disgusting. And Levitt is worse.
So they can fuck off more? More funding has never and will never fix laziness, stupidity, negligence or incompetence. ALL guilty individuals should be terminated immediately.
Didn't you get the memo--nothing EVER is Bush's fault. Anything before Nov 4 2008 was Clinton's fault, anything after is Obama's fault. Bush never made a mistake, just ask him.
That happens at every company. You can't watch over thousands of employees every second of the day. You guys need to get off the computer and get a job. With that said SEC is garbage. PDT is a friggin joke.
But who's been President for the past 8 years? Doesn't the buck really stop there? Where was the leadership with the Republican Majority in Congress for most of Bush's presidential administration? I would suggest, asleep at the wheel. The SEC under Bush has been a lot like Homeland Security, and a few other large governmental bureaucracy's . . . The people that he has appointed, from Rumsfeld to Chertoff to Cox have been totally incompetent.