Securities and Exchange Commission Missed Madoff ‘Cause Employees Were Busy Looking At Porn

macquarieporn.JPGNot judging, and, actually, maybe this makes the Team SEC look a little better than before? It’s not that they were dead/dumb/stupid, they were just otherwise occupied/hand their hands full? Don’t think I’m reaching here.

The work computer of one regional…

You Fools, Prop Trading Is What SAVED The Big Banks!

From Asia Times:

I have boundless regard for Paul Volcker, but the proposed restrictions on bank proprietary trading are, well, fixing the barn’s roof after the horse has bolted. The Obama administration really, really doesn’t get the joke. The banks went bankrupt…