As fun as this must be for the SEC, for some reason there are a few people that would like to discuss the SEC’s reaction to a Ponzi scheme whose alleged perp will likely die awaiting trial.
Even though Mary Schapiro can’t believe this timing (!), fine, she’ll humor you. But don’t interrupt again. They are trying to God’s work (and maybe win over some voters).
The following is a statement from SEC Chairman Mary L. Schapiro regarding SEC Office of the Inspector General (OIG) Report 526 — “Investigation of the SEC’s Response to Concerns Regarding Robert Allen Stanford’s Alleged Ponzi Scheme”:
“This report recounts events that occurred at the Commission between 1997 and 2005. Since that time, much has changed and continues to change regarding the agency’s leadership, its internal procedures and its culture of collaboration. The report makes seven recommendations, most of which have been implemented since 2005. We will carefully analyze the report and implement any additional reforms as necessary for effective investor protection.”
In other words, “I’m turning this ship around, and most of your bullshit suggestions are already in place, so how about you take your light your OIG report on fire?”