The new top cop at the U.S. Securities and Exchange Commission is viewed as the best hope in years to root out financial fraud and convince fuming investors that the regulator that missed Bernard Madoff's massive fraud is up to the job.
Former federal prosecutor Robert Khuzami was picked to lead the SEC's enforcement division at a time when investor confidence had been shattered during the worst financial crisis in decades.
It was bad enough that trillions of dollars evaporated from global markets and the government had to rescue Wall Street firms, but then it emerged in December that the SEC had failed to uncover Madoff's $65 billion Ponzi scheme despite warning signs and complaints.
No comments:
Post a Comment