Don't Blame The SEC For Allen Stanford

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It's becoming tougher and tougher to even dream up a series of events which would officially qualify the SEC as having violated its duty to vigorously pursue alleged frauds. Taking some guy named Harry's word is one thing; doing nothing with your own investigation is another. Back in 2005, the SEC were, for once, on the right track to getting at the root cause of the formerly well air conditioned Sir Allen's super-CD offerings. However, the fact that the guy accused of running the whole scheme didn't offer up his 'Here's How I Pulled Off A $5 Billion Fraud' manuscript to investigators was enough for a SEC inspector general to rule that the agency did not breach its pinky swear promise to give it their all in fraud investigations. Apparently the SEC qualifies as too big to fail.

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