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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (119561)	10/11/2009 2:45:19 PM
From: Madharry	Read Replies (2) of 132070

since wnen are predictions threats? OT I did not realize that the maddoff report which was signed off by their inspector general was actually prepared by outside consultants and went through all the failures the SEC personnel made pertaining during the course of several investigations. Apperently Maddoff used the SEC as a sell to prospective clients telling them that he had been investigated and cleared by the SEC. What I wonder is how many thousands of madoffs are lurking in the files of the sec that have been similarly poorly investigated but just havent surfaced yet. It scary to see a governmental failure of this magnitude and then realized that our governement seems to be good at identifying systemic problems after a disaster. Hurricane Katrina, Madoff, Sub prime mortgages, but dont seem to have any solutions to prevent more disasters from occurring. It like saying yep somebody broke in and stole all the furniture. heres why, but not stopping the neighbor from getting robbed the following day. Witness the SEC willingness to settle with BAC for $33 million of shareholder money after execs pull the wool over shareholder eyes. What does the SEC do?

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