Tuesday, February 17, 2009

The SEC Triumphs on Stanford Financial! Not.


The SEC today is wearing out its shoulder blades today, slapping itself on the back for rolling up an alleged $8 billion fraud at Stanford Financial.

Only problem is that a whistleblower alleged it was a Ponzi scheme in a lawsuit three years ago.

God bless our regulators for being right on top of the job. If they were in charge of the Normandy landings they'd have hit the beaches at about the time of the premier of the Ed Sullivan Show in 1947.

© 2009 Gary Weiss. All rights reserved.

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