"Everyone sobered up from the Fed's rate-cutting party on Tuesday and began to notice the corruption, Ponzi schemes and poor regulation rife in the marketplace. And I don't think Obama's selection of Mary Shapiro as head of the SEC settled anyone's stomach.
Shapiro not only failed to catch Madoff's scam in her former post as CEO of the Financial Industry Regulatory Authority (FINRA), she actually hired one of Madoff's sons and appointed him to a disciplinary oversight position. The markets grumble, wondering if this is the "Change we need." "
And I had such good hope.......