SEC Staffers Spend Their Workday Watching Porn
February 4, 2010 · carl · Print This Article
So how did Bernie Madoff pull off the biggest Ponzi scheme in history?
Why have American’s retirement funds lost so much value?
How are people in the stock market still getting away with insider trading?
It’s simple.
Instead of keeping an eye on the financial markets, employees of the Securities And Exchange Commission were keeping their eyes on porno websites.
The Securities and Exchange Commission may have found the real reason it missed giant frauds such as Bernie Madoff’s $65 billion Ponzi scheme: Its employees were too busy trying to access porn at their desks.
About two dozen employees over the past two years have been caught using SEC computers to try to access porn Web sites, including one regional supervisor who made 1,800 attempts over a 17-day period but was denied access by monitoring software.
The situation became a big enough problem that the SEC’s inspector general has sent four internal reports on the topic to Congress over the past two years, according to The Washington Times, which first reported on the sex-starved SEC workers after obtaining information on the computer abuse through a Freedom of Information Act request.
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