Lack of SEC oversight and enforcement at the center of too many messes

Once again, the Securities and Exchange Commission is apologizing for failing to do its job. This time it’s the agency admitting that it had credible allegations of wrongdoing at Bernie Madoff’s firm starting in the 1990s and continuing for years and years that were never properly investigated. Now, $50 billion of alleged losses later, it’s way too late for apologies.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.