Friday, 15 May 2009

Bush's SEC lawyers weren't monitoring Wall Street -- too busy insider trading!

CBS News has learned that two attorneys at the Securities and Exchange Commission (SEC) are under "active" criminal investigation by the FBI for trading stocks based on inside information. Accusations against the two lawyers are detailed in a report by the SEC inspector general obtained exclusively by CBS News. The report, based on a review and analysis of "more than two years of e-mail and brokerage records," puts increased pressure on a commission that has come under fire lately for failing to detect the $60 billion Bernard L. Madoff Ponzi scheme, and turning a blind eye to the Wall Street financial crisis.

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