Myrtle Beach Sun News Logo

Commentary: SEC gets black eye over Madoff scandal | Myrtle Beach Sun News

×
  • E-edition
  • Home
    • Customer Service
    • Subscribe
    • Activate Your Account
    • Account Support
    • Mobile Apps
    • Newsletters
    • The Sun News Store
    • FAQ
    • Cancel SunValues Delivery
    • Plan
    • All Tourist Info
    • Vacation Planner
    • Calendar
    • Where to Stay
    • Ask a Local
    • Festivals Guide
    • Best of the Area
    • Play
    • Nightlife
    • Golf
    • Shopping
    • Shows
    • Myrtle Beach Blog
    • Restaurants

  • Obituaries
    • All News
    • Local News
    • Crime/Courts
    • Business
    • State News
    • Nation/World
    • Weird News
    • More News
    • Politics
    • Myrtle Beach Bike Rallies
    • Submit A News Tip
    • Tourism News
    • Real Estate News
    • All Sports
    • High Schools
    • Coastal Carolina
    • Recreation
    • Golf
    • MB Pelicans
    • Auto Racing
    • More Sports
    • College Sports
    • NFL
    • MLB
    • MB Marathon
    • Toast Of The Coast
    • Green Reading Blog
    • The Roost Blog
    • All Opinion
    • Letters To The Editor
    • Submit A Letter
    • Editorial
    • Cartoons
    • Columns & Blogs
    • Bob Bestler
    • All Living
    • Coasting
    • Neighbors
    • Food
    • Best Of The Beach
    • Announcements
    • Religion
    • Travel
    • Pets
    • Home & Garden
    • All Entertainment
    • Kicks!
    • Best Of The Beach
    • Movies
    • Calendar
    • Contests
    • More Entertainment
    • Comics
    • Puzzles & Games
    • Horoscopes
    • Celebrities
    • Music
    • TV

  • Legals
  • Cars
  • Jobs
  • Moonlighting
  • Homes
  • Classifieds
  • Classified Ads

  • About Us
  • Mobile & Apps

Latest News

Commentary: SEC gets black eye over Madoff scandal

The Kansas City Star

    ORDER REPRINT →

December 18, 2008 11:26 AM

This editorial appeared in The Kansas City Star.

The Bernard Madoff scandal is not only another blow to trust and confidence on Wall Street, but another knock on the reputation of the Securities and Exchange Commission — supposedly the cop on the financial-markets beat.

Earlier this year, SEC Chairman Christopher Cox famously said Bear Stearns was in reasonably good shape three days before the firm went belly-up.

Now Cox has blasted his career regulators for failing to unearth the alleged $50 billion Ponzi scheme that Madoff is accused of running with his investment firm, Bernard L. Madoff Investment Securities LLC.

SIGN UP

Sign Up and Save

Get six months of free digital access to The Sun News

SUBSCRIBE WITH GOOGLE

#ReadLocal

Remarkably, the Madoff operation had been subjected to several SEC inquiries over the years, most recently in 2007.

But Cox, in a blistering rebuke of his own staffers, says they never sought a formal commission-endorsed investigation, which — given the SEC's power of subpoena — would have forced Madoff to produce critical information about his operation.

Officials say Madoff kept more than one set of books.

To read the complete editorial, visit The Kansas City Star.

Related stories from Myrtle Beach Sun News

HOMEPAGE

More commentary by The Kansas City Star

December 15, 2008 02:04 PM

  Comments  

Videos

Horry County Police update a barricade situation near the CCU Campus

Police respond to a shooting incident near CCU’s campus

View More Video

Trending Stories

Two grocery stores on the Grand Strand are shutting down

February 21, 2019 05:22 PM

Shots fired, barricaded suspects lead to heavy police response near Coastal Carolina

February 21, 2019 08:37 PM

See a sneak peek of Topgolf Myrtle Beach, which is expected to open within a few weeks

February 20, 2019 10:39 PM

Large police presence descends on Horry County housing development

February 20, 2019 08:44 PM

Tammy, Sidney Moorer working on civil suit over Elvis disappearance case, attorney says

February 21, 2019 02:39 PM

things to do

Read Next

Shots fired, barricaded suspects lead to heavy police response near Coastal Carolina
Video media Created with Sketch.

Crime

Shots fired, barricaded suspects lead to heavy police response near Coastal Carolina

By Alan Blondin and

Alex Lang

    ORDER REPRINT →

February 21, 2019 08:37 PM

Coastal Carolina University officials have warned all students in Campus Walk Apartments to shelter in their current locations because of a shooting. Law enforcement is on the scene.

KEEP READING

Sign Up and Save

#ReadLocal

Get six months of free digital access to The Sun News

SUBSCRIBE WITH GOOGLE

MORE LATEST NEWS

Grand Strand Fishing Report: Above-average water temperature assisting anglers

Outdoors

Grand Strand Fishing Report: Above-average water temperature assisting anglers

February 21, 2019 06:43 PM
Former Blue Devil tweets good wishes to the wrong Zion

Latest News

Former Blue Devil tweets good wishes to the wrong Zion

February 21, 2019 08:33 PM
Two arrested, one charged with attempted murder from Jan. 8 shooting in Myrtle Beach

Crime

Two arrested, one charged with attempted murder from Jan. 8 shooting in Myrtle Beach

February 21, 2019 08:10 PM
Stop calling 911 to order french fries, Clemson police say after slew of prank calls

Latest News

Stop calling 911 to order french fries, Clemson police say after slew of prank calls

February 21, 2019 05:16 PM
Hate groups ‘surge’ across the country since Charlottesville riot, report says

National

Hate groups ‘surge’ across the country since Charlottesville riot, report says

February 21, 2019 01:44 PM
Flesh-eating bacteria attacks SC YouTube star’s face, but doctors thought it was acne

South Carolina

Flesh-eating bacteria attacks SC YouTube star’s face, but doctors thought it was acne

February 21, 2019 03:55 PM
Take Us With You

Real-time updates and all local stories you want right in the palm of your hand.

Icon for mobile apps

Myrtle Beach Sun News App

View Newsletters

Subscriptions
  • Start a Subscription
  • Customer Service
  • eEdition
  • Vacation Hold
  • Pay Your Bill
  • Rewards
Learn More
  • About Us
  • Contact Us
  • Newsletters
  • News in Education
Advertising
  • Place a Classified
  • Advertise
  • Rates
  • Contests & Promotions
  • Local Deals
Copyright
Privacy Policy
Terms of Service


Back to Story