Probably the best capsule description of the Securities and Exchange Commission came from journalist Chris Byron, who wrote in the New York Post some years ago that the media was the SEC's "seeing eye dog." It was a deliciously accurate phrase, with its imagery of the SEC as blind and clueless, reacting to publicity and lacking in information.I thought back on Byron's dissing of the SEC as I contemplated what has the potential of being the biggest embarrassment to hit the SEC since Bernie Madoff: The disclosure that WikiLeaks would be releasing a "megaleak" of documents from a major U.S. bank. Word of that emerged in a Forbes article this week, and it quickly became apparent that the target would likely be Bank of America (BAC - Get Report).
WikiLeaks Worse for SEC Than Bank of America
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