Your Tax Dollars at Work: SEC Staff Watched Porn as Economy Collapsed

The SEC has fallen asleep at the wheel.  First with Bernie Madoff, and now this.  From 9News:

The SEC’s inspector general conducted 33 probes of employees looking at explicit images in the past five years, according to a memo obtained late on Thursday by The Associated Press.

The memo says 31 of those probes occurred in the 2 years since the financial system teetered and nearly crashed.

It was written by SEC Inspector General David Kotz in response to a request from U.S. Senator Charles Grassley.  An SEC spokesman declined to comment on Thursday night.

The memo was first reported on Thursday evening by ABC News. It summarises findings of past inspector general probes and reports some shocking findings:

A senior attorney at the SEC’s Washington headquarters spent up to eight hours a day looking at and downloading pornography. When he ran out of hard drive space, he burned the files to CDs or DVDs, which he kept in boxes around his office. He agreed to resign, an earlier watchdog report said.

An accountant was blocked more than 16,000 times in a month from visiting websites classified as “Sex” or “Pornography.” Yet, he still managed to amass a collection of “very graphic” material on his hard drive by using Google images to bypass the SEC’s internal filter, according to an earlier report from the inspector general. The accountant refused to testify in his defense and received a 14-day suspension.

Seventeen of the employees were “at a senior level,” earning salaries of up to $US222,418 ($A239,933.12).

Advertisements

Tags: , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: