GOVEROTRAGEOUS: SEC, an incompetent regulator

http://www.cato-at-liberty.org/2010/04/23/sec-incompetence/

SEC Incompetence
Posted by Mark A. Calabria

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But the porn charges are the least of the SEC’s worries. Also released was the IG’s report on the SEC’s failure to stop the Stanford Ponzi scheme. The report shows a clear pattern of incompetence at the SEC. Given the SEC’s failure to act on the Madoff scheme, and the repeated warnings about Stanford, one has to wonder how good SEC investogators are at discovering fraud if they don’t even pursue the clear-cut cases brought to them.

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Government is ALWAYS ineffective and inefficient.

This is a classic example of that.

So, why should we even have an SEC?

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