SEC watching porn instead of Wall Street

SEC Watching Porn Instead of Financial Industry
by: Husna Haq | Christian Science Monitor

Just when it was beginning to repair its reputation with its high-profile case against Goldman Sachs, the Securities and Exchange Commission (SEC) suffers another major blow: Senior staffers there were surfing Internet pornography – as much as eight hours per day, in one case – when they were supposed to be policing the financial industry.

Perhaps this helps explain why the SEC didn’t see the financial collapse coming. Or did nothing to stop Lehman Bros.’ questionable accounting tactics. Or Bernie Madoff’s dubious “investing” strategy.”

They were busy with other things.

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