The Madoff scandal is the gift that keeps giving.
The latest: David Hilzenrath of the Washington Post reports that the Securities and Exchange Commission has disciplined 8 of its employees as part of the agency’s failure to stop the fraud.
But Hilzenrath writes that no one was fired even though SEC’s head of human resources and a law firm hired that one person –described as a manager in the office that inspects investment firms — be fired.
Hilzenrath writes:
“The disclosure that no one was terminated comes at a time when street protesters and other critics who blame Wall Street for the country’s economic plight are questioning whether the government is serious about holding powerful wrongdoers accountable. This week, a federal judge excoriated the SEC for letting firms such as Citigroup settle fraud charges without admitting or denying wrongdoing.”
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