SEC demise

"I am outraged that Chairman Cox immediately points the finger at front-line employees, even before he begins the internal investigation," said Colleen M. Kelley, president of the National Treasury Employees Union, which represents SEC employees. "The hardworking, dedicated front-line employees at the SEC have been outgunned, underfunded and have suffered from inadequate leadership that is ambivalent about the agency's mission."

SEC failures spur calls for agency overhaul Los Angeles Times
Unlikely Player Pulled Into Madoff Swirl New York Times
CNNMoney.com - Reuters
all 10,141 news articles »

securities and exchange omission

"We have a case"!

by Stephan GM Tychon, dec 17, 2008

"...To pursue the case that we've got", states Linda Thomson of the SEC Enforcement Division!

Unprecedented crime, yes. But unforeseen and unexpected? The government was warned, disease and disaster foretold: the Enron.complexxon warning sign* on global crime in Houston during the Enron trial was disregarded by federal prosecutors due to deconstructed investigation and oversight capacity distinctive selection priorities default. This points to intelligence and investigation fraud and corruption tout court. Unprecedented public-private entanglement obstructing clear focus, insight and overview distorts fair trial and proper government. Structural and systemic neglect and incompetence by the FBI and the SEC to detect massive fraud, crime and corruption must lead to the probe and full scrutiny of these federal agencies. The western democracies are threatened by large scale decency default performed by public servants.

 Errbanke's  SEC-Fed crime brokerage   

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Obama says government 'asleep at the switch'

14 hours ago

CHICAGO (AP) — President-elect Barack Obama says the government has been "asleep at the switch" when it comes to overseeing the nation's financial system.

He says Americans are "feeling frustrated that there's not a lot of adult supervision."

Obama spoke in Chicago as he announced appointments to head the Securities and Exchange Commission and to other regulatory agencies.

Obama called for a "shift in ethics" on Wall Street.

He says everyone involved — from CEOs to shareholders to investors — needs to consider not only whether what they're doing will make them money, but also whether it's right, and whether it conforms to "higher standards."