Wednesday, June 03, 2009

Schapiro builds her legacy, thanks to WaPo

Mary Schapiro builds her legacy, with the help of a Washington Post puff piece:

Still weighing heavily on the SEC is how the Madoff fraud went undetected. Schapiro calls the SEC's record in the case a "failure," despite complaints from some enforcement personnel about that characterization.

Note to Mary (and the WaPo): Finra, the organization you headed, had full authority over Madoff's activities, certainly prior to 2006 when his firm registered as an RIA. (To be fair, no whistleblower tipped Finra off, as happened with the SEC, at least as far as we know.)

Honestly, can anyone think of a truly penetrating article the Post has ever done on the SEC?