Securities & Exchange Commission

So, the Securities & Exchange Commission (S.E.C.) were apparently aware of Bernard L. Madoff's financial activities - including his $50 BILLION ponzi scheme which has now defrauded millions of people all over the world.

As far back as 1999, the commission received specific and credible allegations regarding Madoff's financial iniquity but..... they never acted upon them.

Instead - admittedly hampered by inadequate funding by the Bush regime - the S.E.C. pushed forward a program of non-regulation for the financial industries which in turn has directly led to the sub-prime mortgage crisis and the current meltdown of the money markets worldwide.

NINE years and the shit gripping S.E.C. did nothing. Christopher Cox, the S.E.C. chairman has REFUSED to accept any responsibility, preferring that the buck - instead of stopping with him - is passed to underlings blaming them for failing to investigate the allegations against Mr Madoff. Well done Mr Cox - you too win a major shit-gripper award for screwing over the very people who depended on you to do your job properly.