The SEC’s Stanford Autopsy

A 159-page report issued last week by the SEC’s inspector general can be summed up thusly.

The federal watchdog agency has known since 1997 there was something amiss at Stanford Financial Group, according to the report. Even though the company’s promise – basically, ‘We’ve got a machine that spits out buckets of money when we press this button, honest!’ – was always a head-scratcher in some circles.

Circles like the SEC’s Fort Worth office, which the report indicates wanted to pounce long before the agency did – starting in 2005.

Dansette

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