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New Oversight Report Criticizes the S.E.C.

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"So where did the SEC go wrong? If you haven't seen anything screwed up in the financial markets over the past few years, then you really haven't been paying attention. They missed a few big Ponzi schemes, including those run by Bernard Madoff and R. Allen Stanford. They didn't do their job to adequately oversee investment banks, which partially led to the collapse of a few and the near-demise of them all. They also missed the opportunity to eliminate gray areas or wrongdoing that existed in the financial markets that helped create the financial crisis.  As you might guess, some of the findings had to do with precisely these failings. Here are all 10 (summarized)."
SOURCE:   the Atlantic