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FOR IMMEDIATE RELEASE |
CONTACT: Project On Government Oversight (POGO) Keith Rutter |
These Are the Investigative Reports the SEC Doesn’t Want You to See
WASHINGTON - January 20 - Previously unpublished investigative reports exposing a wide range of serious misconduct at the Securities and Exchange Commission (SEC) are now available on the Project On Government Oversight's (POGO) website.
POGO obtained many of the investigative reports by the SEC Office of Inspector General (OIG) through the Freedom of Information Act (FOIA) and from other sources. While some investigations were previously reported by the media and congressional offices, most are nowhere to be found on the websites of the SEC or OIG.
The previously unposted reports include investigations into retaliation against SEC whistleblowers, the agency's failure to vigorously regulate Bear Stearns, conflicts of interest, and insider trading by SEC employees. POGO previously raised concerns about the SEC ignoring recommendations made in the OIG's reports.
"The public has a great interest in knowing what is in these reports," said Michael Smallberg, a POGO investigator who compiled the database. "The SEC should hold itself accountable and that means embracing transparency even when it might embarrass or bring negative attention to you."
More information on the SEC OIG's investigative reports can be found on POGO's blog: Unposted Inspector General Reports Showcase SEC Misconduct, January 20, 2010
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Show All"The SEC should hold itself accountable and that means embracing transparency even when it might embarrass or bring negative attention to you."--Michael Smallberg
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thank you, pogo people, for your efforts to turn the world right side up. the very quiddity of democracy requires government transparency which is the opposite of what's happening today. with surveillance, tsa scanners and top secret america the voter is hard put to know what to expect as he steps from the booth, smiles and holds high his purple index finger. i agree, michael, that each and every one of us should "hold itself accountable" for words and actions which affect those around us. however, most prefer making excuses to making amends. protecting the "reputation for excellence" takes precedence over the reality of human error.
over and over when those elected to offices or hired for a government agency are accused of poor performance, we hear denials and excuses aplenty but seldom an apology. whether it's government or highly respected professionals all too often protecting the reputation means shielding the wrong doer from public scrutiny. so, we see the errant priest allowed safe passage at the expense of a damaged child, an addicted er surgeon still operating because to chastise him/her openly could hurt a hospital's rep--not to mention the law suits the knowledge would bring. the political candidate who states, "i need more information before i make a firm commitment" puts him/herself in danger of being perceived as weak and wishy-washy. we the people demand such unquestionable perfection from our icons that to admit, "i made a mistake, but i've learned," is political suicide. we don't want to see the clay feet of our august leaders. as long as we expect those in public service to be our betters, they must hide behind the vaneer of a reputation for infallibility.
ideally, the government should belong to the people and not the other way around!
keep up the good work, pogo!