In his statement released last week in response to the SEC’s failure to catch Bernard Madoff’s alleged “$50 billion ponzi scheme”, commission chair Chris Cox lamented his staff’s failure, during previous investigations, to seek subpoenas to compel Madoff to provide information. But according to a veteran agency source, under Cox’s leadership the commission has made it increasingly difficult for investigators to obtain subpoenas, with the inevitable result that they have become less likely to ask for them.
This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=172351