Wednesday, December 31, 2008

Den Of Thieves?

From Americans think Madoff's behavior is common - poll by David Goldman:

Most Americans believe that investment fraud like the recently revealed Ponzi scheme run by Bernard Madoff happens regularly on Wall Street, according to a recent survey.
Government regulation has been a hot political topic since the credit crisis began in mid-September. Many Democratic lawmakers have accused the Bush administration of allowing institutions and investors to operate with too little oversight, leading to irresponsible bets and illegal activity that spelled disaster for the markets.

Bush appointee Christopher Cox, the SEC's chairman, has been widely criticized for failing to act on information that could have prevented Madoff's scheme. Cox said last week at a Congressional hearing that "credible information" had been brought to the SEC's attention over a period of nearly 10 years about Madoff's activities, but no formal investigation was made.

0 comments - Post a comment :

Post a Comment