Why the SEC Keeps Backpedaling

[guest]

New Chairman Schapiro could be caving in to business pressure


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[jenny14]

Hello Friends.....


n the wake of Bernie Madoff's $65 billion Ponzi scheme, Mary L. Schapiro, the new chairman of the Securities & Exchange Commission, said she wanted to show that her agency was cracking down. So in May she proposed that almost 10,000 money managers undergo surprise inspections to make sure they weren't ripping off clients. "Investors are looking to the SEC to assure the safekeeping of their assets," she said. "We cannot let them down."


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