Apology NOT Accepted

When did we get to the point in our society where apologizing and promising to do better gets you off the hook?

Just pick a problem , from Fannie & Freddie to Bernie Mahdoff to the Big Dig to our inept Governor, the Rodney Allen Rippey of Massachusetts politics Deval Patrick. All classic cases of closing the barn door after the horse has bolted.

Lets look as some prime examples from SEC testimony on oversight of Bernard Madoff's investment firm.

Red flags were raised to the Securities and Exchange Commission over a decade but weren't pursued, and Republican and Democratic House members said that reflected deep, systemic problems at the market watchdog agency. READ- We ignored the problem until it became a bigger problem.

The SEC's internal watchdog, Inspector General H. David Kotz, said he is so concerned about the agency's failure to uncover Madoff's alleged Ponzi scheme that he is expanding the inquiry called for last month by SEC Chairman Christopher Cox. Cox had pushed the blame squarely onto the SEC's career staff for the failure to detect what Madoff was doing. And why is he concerned now? Because his ass in on the line. This is a joke.


It appears that the complaints against Madoff's operations by securities industry executive Harry Markopolos and others were "brought to the right place" within the SEC, Kotz said, and to enough people that action could have been taken. What am I paying taxes for if problems like this get dropped in the laps of ' experts' and get ignored?

This whole thing makes me sick.