Madoff Case Seen Fueling Attacks On The SEC


	Madoff Case Seen Fueling Attacks On The SEC

Forbes Markets

12-16-2008 8:39 AM

1052 views

tags:

madoff, sec, regulation

Forbes Markets says:

More pressure for the SEC to be turned upside down and shaken or merged into another financial regulator.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/ce081dec-d3fa-4415-babf-7b3714e950e8/2508896F-D925-4CA5-8A96-4814E859AE21/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.reuters.com/article/newsOne/idUSTRE4BF00U20081216" href="http://www.reuters.com/article/newsOne/idUSTRE4BF00U20081216" style="font-size: 11px;">www.reuters.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.reuters.com/article/newsOne/idUSTRE4BF00U20081216"><P>The $50 billion fraud allegedly committed by broker Bernard Madoff is a major embarrassment for the U.S. Securities and Exchange Commission and adds to questions already being asked about the regulator's competence.</P><SPAN id="midArticle_1"></SPAN>
<P>The SEC's inability to uncover the scandal until Madoff's sons went to authorities last week comes at a particularly bad time for the SEC and its Chairman, Christopher Cox. They have already been accused by some lawmakers and market experts of being asleep at the wheel while the <A title="Full coverage of the credit crisis" href="http://www.reuters.com/news/globalcoverage/creditcrisis">credit crisis</A> exploded on Wall Street.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/2508896F-D925-4CA5-8A96-4814E859AE21/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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