Securities And Exchange Commission Employees Working Through Their Porn Issues

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As you may recall, last February an unnamed Securities and Exchange Commission worker got in a bit of trouble with his employer for viewing porn while on the job. The guy made at least 1,800 logged attempts to check out some sites that included www.ladyboyx.com, www.ladyboyjuice.com, www.trannytit.com, and www.anal-sins.com, which, he admitted, “were kind of distraction, per se.” But he had a good reason which is that he had a lot of work to do, and it was stressing him out. Apparently the guy, who remains employed by the SEC wasn't alone- thirty three individuals employed by the regulator in its Denver, Atlanta, Boston, Chicago, Los Angeles, Fort Worth, Texas, and Washington, D.C. offices have had issues getting through the work day without taking a break for some 'me time.'

Because our tax dollars are at work, the SEC took the porn incidents seriously and have informed the individuals in question that a) that sort of thing is generally frowned upon and b) in some cases made them talk with a professional about why they struggle to overcome certain urges until clocking out.

U.S. Securities and Exchange Commission employees at the agency's Denver regional office and six other locations were "counseled or disciplined for accessing pornography sites," according to a newly released document. A summary report by the Office of Inspector General publicly disclosed last year showed that 33 SEC employees and contractors were investigated for viewing porn or sexually explicit websites on government computers and time from 2005 through 2010.

"Many of the employees who engaged in such conduct were at a senior level and earned substantial salaries through their government employment," the OIG report said, noting that 17 employees had an annual salary of at least $99,356.

SEC Employees Busted For Viewing Porn At Work [DP]

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The Securities And Exchange Commission Requests A Little Credit Where Credit Is Due, Please!

Yesterday, the Wall Street Journal ran a front page story reporting that the Securities and Exchange Commission had "blown" the cover of whistleblower Peter C. Earle. The article claimed that Earle, a former employee of Pipeline Trading Systems turned government informant, had his identity "inadvertently" revealed through a "gaffe" on the part of an SEC lawyer, who showed a Pipeline exec "a notebook from the whistleblower filled with jottings about trades, calls and meetings." The executive was said to have recognized Earle's handwriting and told his colleagues, who had previously suspected but did not know for sure that "Pete's the whistleblower." The story was easy to believe because if you've been keeping up with the SEC over the last number of years, you know that this sound exactly like something they'd accidentally do. Except that whereas the regulator fully copped to, for example, missing Madoff while trying to access ladyboyjuice.com 385 times/day, it says that this accusation? Is bull shit. It did not "inadvertently" "blow" anyone. Here's its strongly worded letter to the Journal saying as much: The Securities and Exchange Commission in no way exposed Peter Earle as a whistleblower, and our use of his notebooks in an investigative deposition was neither "inadvertent" nor a "breach" or "gaffe" ("Source's Cover Blown by SEC," Page One, April 25). It was a deliberate decision, which SEC lawyer Daniel Walfish discussed in advance with his supervisor, who was present for the deposition in which the notebooks were exhibited. Nor did the fully authorized use of the notebooks in any way compromise Mr. Earle or the integrity of the SEC's investigation of the Pipeline Trading Systems matter. Although it was widely known among executives of Pipeline and Milstream Strategy Group that Mr. Earle had approached the SEC after he was terminated from Milstream—a fact volunteered by several witnesses and acknowledged by Mr. Earle long before any use of his notebooks—the SEC declined to confirm his identity and still treated his status as a cooperating witness as confidential. The SEC made sure to obtain all of the notes of the approximately six Milstream traders, and in the SEC's deposition of Gordon Henderson (the supervisor of Mr. Earle and the other traders), the SEC used other traders' notes along with those of Mr. Earle. The use of these traders' notes—highly relevant evidence prepared in the ordinary course of their work at Milstream—in no way revealed whether Mr. Earle or any other trader was or was not cooperating with the SEC. George S. Canellos Director New York Regional Office U.S. Securities and Exchange Commission New York SEC Did Not Blow Source's Cover [WSJ] Earlier: SEC Burns Whistleblower In The Most SEC Way Possible