SEC staff morale low, atmosphere marked by distrust: [GAO] study [finds]
Source: Fox Business News
The Securities and Exchange Commission is not the best place to work among federal agencies in Washington, according to a new study by a government watchdog
"Many staff indicated that morale is low and a significant percentage characterize the atmosphere of the agency as one of distrust," the GAO said.
In a letter responding to the GAO study, SEC Chair Mary Jo White said she recognizes there is still "work to do in these areas" and that she is "committed to ensuring that process continues."
The SEC agreed with the report's recommendations, she said. She added that the SEC is taking steps toward addressing workforce competency gaps and improving intra-agency communication.
Read more: http://www.foxbusiness.com/news/2013/07/18/sec-staff-morale-low-atmosphere-marked-by-distrust-study/
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Government Accountability Office ("GAO"
Summary of SEC problematic issues ( here ) FULL Report ( here )
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WOKE UP with a mission!
- - It is amazing. This morning I woke up miffed at the Department of Justice on several levels. It was my intent to do another - "Racketeering Romney" chronicle this morning, strictly on the failures of the DOJ and the SEC. Then - BINGO - look what's in my mailbox from the Bankruptcy News Reporter - "SEC Staff: Morale low, Distrustful"
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Rolling Stone Matt Taibbi story points out SEC is like Peyton Place.
- - Many have heard how the SEC blew the Madoff and Stanford cases. That there are also issues of conflicts of interest much. Compounding that is the fact that when the agency gets a John Wayne guy ready to take on the world - it seeks to destroy him (see case of David Weber having to buy/wear a gun to SEC, getting fired, suing them (Rolling Stone Taibbi story - here and winning $580,000 - here ).
- - As a result of the David Weber debacle at the SEC, former Chairperson Schapiro and various other SEC high ups were compelled to resign. Matt Taibbi can take some credit for that, his story shined the light upon the darkness and reactions transpired. Schapiro and her replacement (Mary Jo White) promised they will fix the SEC. For surely another Madoff case of getting away with billions in frauds can't transpire again - correct?
Eaaannnntt! Sorry - the SEC's Promise to make sure another Madoff case doesn't slip the cracks is bogus!
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DOJ and SEC are letting a case larger than Madoff slip through their fingers.
- - - What was on my mind this morning (actually last night before I feel asleep) - was to bitch that there IS another case larger than Marc Dreier, Discala/Rothstein, Palm Beach Links Capital, Lancelot/SkyBell, Stanford and Tom Petters (well over $50 billion; because Tom Petters alone was over $42 billion); which the Department of Justice and SEC are not halting, arresting and won't even investigate.
The reason the case is larger - is because they are ALL connected!
- - - Mitt Romney seeks to be "retroactively" retired because Paul Traub is one of his Frank Nitti's and Paul Traub was partners with Marc Dreier during the Tom Petters Ponzi scheme. During the election a report by the Federal Receiver of Petters Ponzi slipped into the night quickly. In June 2012 Douglas Kelly named Paul Traub as the "controller" (facilitator) of Tom Petters Ponzi and has since settled for around $1 million in fees returned (see CT LawTribune.com story - here ).
- - - It is also publicly known that Tagg Romney is involved in the Stanford fraud case. What is not being reported by the press is that Rothstein, connected to Discala, is also connected to Tom Petters Ponzi. As is Palm Beach Links Capital, (Prevost & Harrold already have plead guilty and are waiting for their sentence) Lancelot/ Sky Bell (Greg Bell has plead guilty and is doing 10 years).
The one person who always seems to get away with it all is Mitt Romney's crony Paul Traub.
- - - What most aren't aware (as no main stream will report it) - is the fact that Mitt Romney's other secret attorney was Colm Connolly; who was the Delaware United States Attorney. Colm is not the only issue of federal corruption connected to this saga. Marty Lackner was partners with Greg Bell and purportedly committed suicide before Marty and I could meet and compare notes. J. Lackner is the brother of Marty Lackner.
That would be MN Assistant U.S. Attorney (former head of criminal division) - J. Lackner (some details Public radio - here)
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WARNING to SEC - If you don't wish to do the job - then we'll have to do it for you.
- - - Is there a moral to the story - or an end? Maybe, maybe not. Currently, yours truly has come to the conclusion that IF the DOJ and SEC don't desire to prosecute Goldman Sachs and Bain Capital for their massive frauds; then yours truly must become a prosecutor. Now, I can go to school for years - or, I can take advantage of the Congressional proviso of RICO. Congress has made it possible that citizens like you and I can fill in "Prosecutorial Gaps" through the Racketeering Influence Corruption Organizations Act of 1970.
One is not permitted to sue the DOJ or SEC for Breach of Fiduciary Duty;
--------------------------------but one can sure as hell give em Hell and sue Romney & Bain for Racketeering!
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Matt really pushed himself out on the line when he went against Wall Street... so...he does what he has to do to pay the rent.
That's the problem these days. Matt's articles and other's who stuck their neck out should have been able to get Investigations into these folks who caused the Financial Crises that has resulted in Austerity here and in the Eurozone and further.
But....there's no way a Reporter can keep Banning Head 
and still earn enough to live on these days in our Media!
I think ...as you surmised...that there are things he can't touch too far..without terrible consequences. But...I applaud him for that thin limb he managed to crawl out onto to expose the incredible "should be criminal activities" that he did.
Hopefully one of these days your stuff can get a hearing...but, you can see how hard it is given the climate of "silence against prosecuting folks who have committed what many of us see as crimes against citizens by Wall Street who GOT THE BAILOUT.
Very sad and true....
