Thursday, September 03, 2009
Bad PR
Here is a case of bad PR. Months late and poor in excuse, the Securities and Exchange Commission explains why it missed the Madoff fraud. The excuse? Incompetence. Or, in other words, "we're not crooked, just stupid." That hardly builds confidence in the agency that is supposed to be watching out for investors. On the other hand, what else could the agency say?
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