REUTERS ASKS A GOOD QUESTION

REUTERS--The report by Finra on its failure to detect the alleged Ponzi scheme at Allen Stanford’s offshore bank is no shock.

Finra makes the SEC look like an agressive regulator. And this should give anyone reason to pause when you consider that Mary Schaprio, the current Securities and Exchange Commission chairman, most recently headed-up Finra.

Schaprio tells us her mission is to beef-up the SEC’s enforcement procedures in the wake of its own failings on Stanford and more significantly its botched investigation–or non-investigation–of Bernard Madoff. Why didn’t she first do this when she was at Finra?

BANZAI7--Nothing new here. We all asked this same question when she was appointed. The question is still a very good question.

An even better question is how the morons working at team Obama decided she was the best choice. Not that any morons from the GOP would have done better.