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Morale at the SEC Bad to Worse

/ June 13, 2011

Professor David Albrecht has an excellent column on the SEC in

Bad and Getting Worse.  As we are studying Acct regulation in Chapter One of Spiceland  this will make an excellent starting point for our examination of what went wrong. 

Indeed the SEC has done little or nothing bringing few to any cases of prosecution via the PCAOB. Most SEC actions are well after the fact once the damage has been done

Enron, Worldcom, Fannie Mae, Freddie Mac, Lehman, Bear Stearns, Merrill, Countrywide, etc

Please read this column 

 

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3 responses to “Morale at the SEC Bad to Worse”

  1. Kelly Camacho Avatar
    Kelly Camacho

    I haven’t followed this story in the past, so I don’t understand what the problem is? Why are the employees so unhappy?

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  2. Dennis Elam Avatar
    Dennis Elam

    Good question, let’s look at the survey he has posted to see some answers
    I suspect though that they know they are viewed as toothless tigers that simply put the reports in the file cabinet and then do nothing
    Cox was the one that started XBRL to try to get faster access to company reports
    the SEC as far as I know remains understaffed and probably without the tools to do that they should be doing and probably quite frankly without the expertise, okay how many students want to work in Wash DC for the SEC, hmm that’s what I thought

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  3. Kelly Camacho Avatar
    Kelly Camacho

    Thats kind of funny because I seriously used to think that it may be interesting to work for the SEC!! I have since decided I would not move from San Antonio for really any job. I’ll have to check out the survey

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