Article

2009-09-03 Economy

SEC IG: Agency Never Did Competent Probe of Madoff

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Posted by Fred 2009-09-03 00:00|| || Front Page|| [3 views ] Top

#1 Lessons Unlearned.

1 - the regulators charged with regulating failed to regulate. You don't need new rules or laws. You need new people.

2 - people allowed to be in persistent contact with those they're suppose to regulate tend to identify with those they're suppose to regulate particularly if the supervisees have more resources [$$$] than the supervisors. To twist a phrase - familiarity tends to breed corruption, in thought if not deed.

Posted by Procopius2k 2009-09-03 07:26|| 2009-09-03 07:26|| Front Page Top

#2 or they may just have a lot of incompetent people

or they may have had people going to feel good seminars instead of doing their work

Posted by lord garth 2009-09-03 14:59|| 2009-09-03 14:59|| Front Page Top

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