SEC staff watch porn as economy crashed

Why wasn't the accountant fired instead of receiving a 14-day suspension. A senior attorney agreed to resign after spending 8 hours a day searching porn and downloading it on any device available after he filled up his hard drive.

We want to know why all SEC employees that were found to have searched for porn on a Government computer were not fired. Why did the Attorney General's office not get involved and terminate every last employee searching for porn on the taxpayer's dollar while using a Government computer? These senior people and others started spending more time on porn then on their job while Bush was President but then they continued after Obama took over. Why have they all not been fired? This is clear cut case for dismissal of all involved.

SEC needs a thorough investigation from top to bottom. Did they file civil charges against Goldman-Sachs to cover up their extreme lack of ethics? What else have they been doing on the taxpayers dollars? SEC needs a clean sweep as it is obvious the senior people were not doing their job. Who hired these people is what we would like to know.

Chalk another one up for the Obama Justice Department twiddling their thumbs and not telling the SEC to fire these people who violated their oath of office.

This is disgusting and revolting that we are paying such high salaries and some of them at SEC were spending their time looking at porn.

It took two Republicans Senator Grassley (R-IA) and Cong Daryl Issa (R-CA) to bring this to light. We are hearing crickets from the Democrats once again.

SEC staff watch porn as economy crashed
Fri Apr 23 2010

Senior staffers at the Securities and Exchange Commission spent hours surfing pornographic websites on government-issued computers while they were being paid to police the financial system, an agency watchdog says.

The SEC's inspector general conducted 33 probes of employees looking at explicit images in the past five years, according to a memo obtained late on Thursday by The Associated Press.

The memo says 31 of those probes occurred in the 2 years since the financial system teetered and nearly crashed.

It was written by SEC Inspector General David Kotz in response to a request from U.S. Senator Charles Grassley.

An SEC spokesman declined to comment on Thursday night.

The memo was first reported on Thursday evening by ABC News. It summarises findings of past inspector general probes and reports some shocking findings:

A senior attorney at the SEC's Washington headquarters spent up to eight hours a day looking at and downloading pornography. When he ran out of hard drive space, he burned the files to CDs or DVDs, which he kept in boxes around his office. He agreed to resign, an earlier watchdog report said.

An accountant was blocked more than 16,000 times in a month from visiting websites classified as "Sex" or "Pornography." Yet, he still managed to amass a collection of "very graphic" material on his hard drive by using Google images to bypass the SEC's internal filter, according to an earlier report from the inspector general. The accountant refused to testify in his defense and received a 14-day suspension.

Seventeen of the employees were "at a senior level," earning salaries of up to $US222,418 ($A239,933.12).

The number of cases jumped from two in 2007 to 16 in 2008. The cracks in the financial system emerged in mid-2007 and spread into full-blown panic by the fall of 2008.

Rep. Darrell Issa, the top Republican on the House Committee on Oversight and Government Reform, said it was "disturbing that high-ranking officials within the SEC were spending more time looking at porn than taking action to help stave off the events that put our nation's economy on the brink of collapse."

He said in a statement that SEC officials "were preoccupied with other distractions" when they should have been overseeing the growing problems in the financial system.

Source: News.Ninemsn.com.au