I did not wake up this morning planing to defend the SEC after some of its employees were cited in an SEC Inspector General report for having viewed pornography on their work computers. Trust me on this.
But the headlines that are coming out today about the IG’s report seem to me to be a silly effort to sensationalize an embarrassing revelation about some unprofessional employees into an implied “cause” of whatever failings the SEC was guilty of leading up to the financial crisis. Full details are available in this post on my Enforcement Action blog over at Compliance Week.
