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Sleeping Regulators Lie?

© Drew Sheneman

Thirty-three employees of the SEC have been punished for watching pornography online, including during the time when the economy was crashing.

Of course, the Republicans were quick to use this to try to block financial reform, saying “This stunning report should make everyone question the wisdom of moving forward with plans to give regulators like the SEC even more widespread authority.” But what I find interesting is that the time period when the offenses occurred mainly fell during the last Republican administration, which was notorious for being lax regulators. With all that extra time on their hands, I’m surprised it was only 33 people watching porn, since the SEC has more than 4,000 employees.

UPDATE: Pro Publica points out that the porn charges are old news, and they are being brought up now as a political ploy to try to stop financial regulation.


One Comment

  1. TJ wrote:

    Honestly, the first time I heard this news I knew immediately that it was a dirty political trick to try to stop financial regulation. What other reason could there be? The timing, the overblown claims, the hyperbole. This is a minor story at best if there’s no ulterior motive.

    Saturday, April 24, 2010 at 10:30 pm | Permalink