SEC chairman says agency failed to probe Madoff
"Securities and Exchange Commission chairman Christopher Cox said Tuesday his agency repeatedly failed for at least a decade to pursue allegations of wrongdoing by Wall Street figure Bernard L. Madoff, the alleged perpetrator of a $50 billion Ponzi scheme.
Cox ordered the SEC's inspector general to look into the failure, saying the agency's staff had never brought the Madoff matter to the attention of commissioners after relying on information voluntarily produced by Madoff and his firm."
Why do any of these SEC employees keep their jobs?
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