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Criminal Law

: Crime & Federalism

SEC Bans Madoff from Working in Securities Industry: Go Get 'Em Tiger!

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Several years after being warned that Bernie Madoff was running a Ponzi Scheme; and several months after people lost billions of dollars; the SEC has finally taken action: WASHINGTON (AP) -- Disgraced money manager Bernard Madoff has been prohibited from working in the securities industry under a settlement with the Securities and Exchange Commission.How Madoff was going to work in the securities industry from prison... I don't know.  The SEC, typical of a do-nothing agency filled with know-nothing bureaucrats, had to do something to make it seems like it... well... does something.  So there you have it.  Bernie Madoff shall not be allowed to work in the securities industry.  If that doesn't restore confidence in the SEC, what will?

Full post as published by Crime & Federalism on June 16, 2009 (boomark / email).

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