SEC looks into Madoff's niece, Shana Madoff, wife of former SEC attorney Eric Swanson

[grassfed]

SEC plans to investigate ties to Madoff's niece: Journal
http://www.marketwatch.com/news/story/sec-plans-investigate-ties-madoffs/story.aspx?guid={28A02EED-4FBF-435D-9771-9B2B221C0B68}

SEC plans to investigate ties to Madoff's niece: Journal
By Barbara Kollmeyer

MADRID (MarketWatch) -- The Securities and Exchange Commission plans to probe the relationship between the niece of financier Bernard L. Madoff and a former official at the agency, according to a report in The Wall Street Journal on Wednesday. The probe comes on the heels of an admission by SEC Chairman Christopher Cox that the agency was aware of numerous red flags raised over Bernard L. Madoff Investment Securities LLC, the focus of an alleged $50 billion Ponzi scheme. The agency has launched an investigation of its oversight into the firm. In a statement released Tuesday, the SEC chairman said its initial findings were "deeply troubling," indicating that those red flags going back to at least 1999 were repeatedly brought to the attention of the SEC, without any action being taken. The SEC said its investigation would include all staff contact and relationships with the Madoff family and firm, "and their impact, if any, on decisions by staff regarding the firm." Last year, Madoff's niece, Shana Madoff, married former SEC attorney Eric Swanson, who worked at the SEC for 10 years.

[depakid]

1. Time to start sending some "regulators" to prison

The ONLY way to change the corrupt culture that's developed over 25 years at many of these agencies is to hold people accountable to the fullest extent of the law.