Saturday, May 28, 2011
SEC's Revolving Door Leads to Fleeced Investors
If you ever wondered how financial firms get away with their crimes for so long we may just need to look at the revolving door between the investigators and the crooks. The Project for Government Oversight has revealed that time after time SEC employees have taken jobs with the very companies they were charged with regulating. They even document particular cases, Bear Stearns and the Stanford Ponzi scheme, where investigations were impeded because of this revolving door. Between POGO and Senator Charles Grassley's efforts here and here we just may get to the bottom of why and how tax payers have been stuck with so many bills and how investors get fleeced so regularly!