Monday, April 26, 2010

How Madoff Got Away With It: The SEC Was Surfing for Porn

I stumbled across this today, ironically enough, through a humor site. And I am not surprised at all. Apparently, while Madoff was ripping people off and banks were getting ready to siphon billions off the economy and collapse, the SEC was too busy surfing for porn to care.
"During the past five years, the SEC OIG (Office of Inspector General) substantiated that 33 SEC employees and or contractors violated Commission rules and policies, as well as the government-wide Standards of Ethical Conduct, by viewing pornographic, sexually explicit or sexually suggestive images using government computer resources and official time," said a summary of the investigation by the inspector general's office.

More than half of the workers made between $99,000 and $223,000. All the cases took place over the past five years.

Believe it or not, I’m not shocked by this. I’m also not surprised. If anything, it explains a lot.

If you think this is an isolated incident, you need to get out more. You wonder why government bureaucracies have to be so large and inefficient? It’s probably because of the amount of people not getting anything done while they look for porn. Or play golf. Or do anything but the jobs they’re supposedly hired to do. You know, like watch over the economy. And regulate the banks.
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