According to Reuters.com, in a newly released report from the Securities and Exchange Commission Inspector General, former General Counsel David Becker had a conflict of interest regarding his work on the Bernie Madoff case. The IG report states that David Becker:
“…participated personally and substantially in particular matters in which he had a personal financial interest by virtue of his inheritance … and that the matters on which he advised could have directly impacted his financial position.”
It is a bit of a complicated and depressing situation, so I suggest reading the whole article. Although READER DISCRETION IS ADVISED when you get to the part where SEC Chairman Mary Schapiro actually describes Mr. Becker as a “talented, highly skilled lawyer.”
LOL, I wish Mary Schapiro wrote my performance reviews. Hard to believe Bernie Made-Off got away with this with such strict enforcement by the government and the SEC. Of course, Tea Party nation will tell us we need less regulation. Darn that regulation which eventually caught Madoff and is now investigating what appears to be an incompetent at best and corrupt at worst SEC official.