Section from the SEC report 4th QTR of 2009-- http://www.sec.gov/about/secpar/secpar2009.pdf#2009review

"This section provides key financial and performance information for FY 2009. It summarizes the SEC’s efforts to manage
resources efficiently and responsibly while accomplishing the agency’s mission.
In FY 2009, the SEC was authorized by Congress to spend $970 million, a
7 percent increase over the $906 million authorized in FY 2008."

--What this really tells me, is that you spent nearly a billion dollars in one year and could barely get a guy who had embezzled 50 billion over a period of 25 years.
Going by this figure would mean that it will probably take Mrs. Shapiro ( SEC Chair woman) , another 20 some odd years to find another weisel, like Madoff.

--A small suggestion, why not use the 970 million, to find out what is keeping Bank of America afloat eventhough they have sacrificed an executive in Ken Lewis,that led the entity to pay back its loan to the U.S. government, would'nt you rather support him, than reprimand him for his deed.

I am not an SEC examiner, but that action really spells foul play....


RC 021610