SEC porn-surfing: Nothing new: The Swamp
The Swamp
Chicago Tribune
Posted April 23, 2010 2:25 PM
The Swamp

by Mark Silva

The cable chatter has been ablaze today with a scandalous report of people at the Securities and Exchange Commission paying more attention to pornography than the financial industry.

Yet there's nothing new about a problem that the SEC's own inspector general exposed some time ago -- and which has been reported on widely in the past.

What's new is the SEC's lawsuit against Goldman Sachs, at a time when the Obama administration is trying to gain new regulatory power over the financial industry -- and a certain publicity-seeking Republican has been peddling the porn story pretty hard.

So notes ProPublica, which points to its own reporting -- in 2008 -- on the SEC's porn problem . Someone was doing a lot more than looking at the time -- the IG had found an employee running a porn-operation with the agency's computers.

"So yes, it's true that while the nation's financial system teetered near collapse, senior staffers at a major financial regulatory agency spent hours surfing pornographic websites on the taxpayers' dime,'' ProPublica's Marian Wang reports today. "And it's true that the agency's watchdog found 31 serious offenders in the past two and a half years, 17 of whom were senior officials [5] whose salaries ranged from $100,000 to $222,000...

"The results of those investigations were routinely reported to Congress, and they've been publicly available all this time on the inspector general's website.''

SEC spokesman John Nester said in a statement today that each of the offending employees has been disciplined or is in the process of being disciplined, and some have already been suspended or dismissed. "We will not tolerate the transgressions of the very few who bring discredit to their thousands of hardworking colleagues," said Nester, adding the agency has lately increased penalties.

ProPublica reported on the porn problem noted in a semiannual report from April 1, 2008, through Sept. 30, 2008. ABC News reported on siimilar findings in a report from Oct. 1, 2008, through March 31, 2009. Other reports on porn surfing within the SEC were reported in February, first by The Washington Times , then The Wall Street Journal, New York Daily News and The Huffington Post .

California's Rep. Darrell Issa, ranking Republican on the House Oversight and Government Reform Committee, now calls it "disturbing that high-ranking officials within the SEC were spending more time looking at porn than taking action to help stave off the events that put our nation's economy on the brink of collapse." He said today that the SEC was "preoccupied with other distractions.''

"Is it a coincidence, then, that Rep. Issa suddenly had a great deal to say about how troubling the porn problem at the SEC is, when this news has been around for years?'' ProPublica asks. "Is it a coincidence, then, that the SEC's porn problem has resurfaced in the headlines after Sen. Chuck Grassley, a Republican from Iowa, specifically requested a report from the inspector general?''

It's probably not nearly as shocking as the online eye-fare itself.

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Comments

We don't have proof that Republican Darrell Issa isn't a terrorist or isn't downloading kiddie porn in his basement or didn't kill JFK in Dallas or isn't an alien. We don't have any proof that Darrell Issa isn't the AntiChrist or isn't the spawn of Hitler and Sarah Palin.


Proof? Piff, who needs that.... Retrograde Republicans like Darrell Issa don't need no stinkin' proof! They've got an anti-Obama agenda to sell, people!


No Let Up: Darrell Issa's Tireless Quest For Scandal


"Remember the 1990s, when Newt Gingrich, Dan Burton and co. managed to create a steady stream of outrage by playing up every Clinton administration "scandal," no matter how minor? Or how about the last years of the Bush administration, when Rep. Henry Waxman (D-CA) seemed to function as a one-man investigative machine, making sure that no Bush administration wrong-doing went unexamined?"


"Today that role is being played by Rep. Darrell Issa (R-CA), the ranking Republican on the House Oversight committee. But despite the steady stream of made-to-order conspiracy theories coming from Fox News and the Tea Party crowd, it's a much harder job. That's largely because Issa's party is in the minority, so he doesn't have the power to compel testimony or subpoena documents. And it's perhaps also because, though the Obama administration is far from squeaky clean, Issa just hasn't had the kind of material to work with that his predecessors did."


http://tpmmuckraker.talkingpointsmemo.com/2010/04/no_let_up_darrell_issas_tireless_quest_for_scandal.php



I'm very confidant that the government will continue to eliminate waste and fraud in the medicare/medicaid programs, thus funding new free healthcare for all. After all, recognizing and eliminating waste is what the government does best!

These numbnuts are now in charge of 1/6 of the US economy. Next up, Cap N Tax and Card Check. Complete destruction of the US economy is well underway. No profit motive = no accountability = no results.


Remember this next time the Democrats call for more government regulation. These are the same people who will be monitoring your healthcare soon.


Look. If I had a private office and could get nice and scandalous on the PC 9 to 5, it would be the American scream. Instead, I've got to settle for the Swamp. From each according to his ability, to each according to his need. Ya da da mean?


Since I am against waste in government I volunteer to take a job at the SEC watching porn and I will only ask for a salary of $95,000 a year thereby producing a savings to the taxpayer of between 5-125K per annum.


------------------------------------
These numbnuts are now in charge of 1/6 of the US economy. Next up, Cap N Tax and Card Check. Complete destruction of the US economy is well underway. No profit motive = no accountability = no results.

Posted by: Inspiring Confidence Thru Porn | April 23, 2010 3:12 PM
-----------------------------


More BS Teabagger Talking Points from another one of Bobby's Mommy's sock puppets....


Gallup Tracking Shows Signs of Economic Recovery


Improved Economy added 1.5 million new full-time jobs during the last month


The improving picture painted by Gallup's economic measures for the first half of April suggests the prospect of good news for American consumers, workers, and businesses. More jobs, increased spending, and increased optimism are the prescription for helping the U.S. recover from its longest recession since the Great Depression and in a way that is experienced on Main Street as well as on Wall Street.
.
http://www.gallup.com/poll/127469/Gallup-Tracking-Shows-Signs-Economic-Improvement.aspx
.



Is anyone better at grandstanding than the repugnants? How can we all forget "Mission Accomplished."

They're a joke... they're more about posturing for their elections than they are about creating policy and doing their frigin jobs.


This story has come out saying that the most porn was watched in early 2008. Obama was not sworn in until 1-20-2009. Slight problem for GOP?


PRESIDENT OBAMA GOES TO WALL STREET....meanwhile, WALL STREET SNEAKS OFF TO A REPUBLICAN FUNDRAISER


Yesterday while Pres Obama was delivering his Wall Street reform speech, Wall Street went to Washington for another meeting with Republican Senators, this time for a secret fundraiser.


"ThinkProgress, along with several other journalists, waited outside of the fundraiser at the National Republican Senatorial Committee (NRSC) building. Sen. Richard Burr (R-NC) walked quickly past reporters into his car, refusing to take questions. Both Sens. Cornyn and George Lemieux (R-FL) dodged reporters by driving into the NRSC’s underground lot. Although ThinkProgress tried to ask both GOP lawmakers and the other attendees of the fundraiser about regulation reform legislation, only Charlie Black spoke to us. Black is a longtime corporate lobbyist who now represents a variety of investment banks, including Goldman Sachs, within a trade group called the “Securities Industry and Financial Markets Association.”


ThinkProgress attempted to talk to the Republican attendees of the event, but everyone other than Black refused to even provide their names.


TP has the video of dodging Republican Senators and lobbyists trying to avoid media attention.
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http://thinkprogress.org/2010/04/22/another-gop-bankfundraiser/
.


How priceless. The filthy GOP would love nothing more than to dismantle the SEC so that the free market could run free, yet now they are "angry" that time was spent surfing the internets instead of REGULATING the markets. You can't make this stuff up. Once again the GOP will do anything to try to score points. This is very transparent though.


Why am I not surprised to find a lib defending $100K plus government employees surfing for pron.

I guess a tax cheat from Goldman on the cabinet is no big deal but calling out regulators, some of whom have yet to be disciplined, is worthy of a left wing tirade from HHH, the white house hack.


The lying hypocritical republicans are at it again, treating American citizens like idiots throwing some red meat out there to distract the news from their GOP lobbying cash sucking banker buddies.

Pathetic. All the republicans care about is protecting the power of the giant trans national corporations. Regular Americans can go to hell as far as they are concerned. It's so obvious.


desperate republikkkans looking for anything they can to blame on Obama.

however...

those caught wasting taxpayers money and generally screwing off on the job need to be fired.

also...

the SEC needs to hire more effective employees; after all, it takes a thief to catch a thief.


Leave it to Mark Silva to nonchalantly throw to the side the porn visiting by SEC employees.
"Oh, nothing new. No big deal!" Mark believes. Of course, if it were something to do with the Republicans, Mark would be would be going ga-ga over it.
And, of course, the charges against Goldman Sachs, which many experts say the government case is very, very weak.
Funny, though, that Mark has not looked into all the Goldman Sachs connections into the Obama administration. And, then there are the nearly $1 million in donations to the Obama administration by Goldman Sachs employees.
Nope, that kind of stuff just gets nonchalantly cast aside like the porn at the SEC.
Democratic and governmental no-nos: Mark Silva thinks are little insects to ignore.
Republican and business no-nos: Mark Silva thinks those folks should be crucified to hell!
Typical.


Actually, I don't remember any wide reporting of this porn thing though I am not surprised. I note that the time span reported covers two administrations so no blame to any particular party. But I do like mike's idea... I'm out of work and I could use a job at the SEC.


Um, wasn't George W. Still president during 2008?


I guess the SEC employees were loyal to "BUSH" in more ways than one!


I bet the victims of Bernard Madoff are taking a close look at whether their losses can be tied to those "distracted" from their jobs at the SEC. If they do, sue away.


George Packer describes his interview of Buchanan for an article he wrote:

Buchanan gave me a copy of a seven-page confidential memorandum–”A little raw for today,” he warned–that he had
written for Nixon in 1971, under the heading “Dividing the Democrats.” Drawn up with an acute understanding of the
fragilities and fault lines in “the Old Roosevelt Coalition,” it recommended that the White House “exacerbate the
ideological division” between the Old and New Left by praising Democrats who supported any of Nixon’s policies;
highlight “the elitism and quasi-anti-Americanism of the National Democratic Party”; nominate for the Supreme Court
a Southern strict constructionist who would divide Democrats regionally; use abortion and parochial-school aid to
deepen the split between Catholics and social liberals; elicit white working-class support with tax relief and
denunciations of welfare. Finally, the memo recommended exploiting racial tensions among Democrats. “Bumper
stickers calling for black Presidential and especially Vice-Presidential candidates should be spread out in the
ghettoes of the country,” Buchanan wrote. “We should do what is within our power to have a black nominated for
Number Two, at least at the Democratic National Convention.” Such gambits, he added, could “cut the Democratic
Party and country in half; my view is that we would have far the larger half.”


Only difference is if the Republicans were in power it would have been gay porn.


So let's just get this clear before it starts. The allegations are about an SEC employee doing this in 2008. That would put the timeline in the last days of the BUSH administration. Is this a shocker? Honestly? Regulatory authority was gutted so heavily, that I imagine there were scads of employees with not very much to do. What do they say about "idle hands being the devil's playthings"?


I guess we have proof that the SEC can find things that are defined by a five-letter word, begin with letter "p" and end in a vowel. So why can't they find ponzi schemes?

And these are the great workers that get paid more than their private sector counter-parts, get great fringe-benefits and have life-time employment. The democrats want to create more of these positions to enforce finacial reform.

Just fear these words "I'm from the gov't and I'm here to help you."

Onto another gov't goof-up. Remember those cost savings we were supposed to see from ObamaCare - guess again.

http://www.cbsnews.com/stories/2010/04/23/politics/main6423757.shtml


And I thought the security guys who lock themselves in the bathrooms during the day to sleep where I work were bad!


Wall St needs to be sanitized.
Everybody who was surfing porn fired. An everyday worker would have been fired for using company resources for personal pleasures during company time.

No wonder Maddoff skated for some many years. He robbed and SEC had the info to bring him to justice but SEC was surfing porn instead of doing their jobs. It is the fox guarding the hen house.


"So notes ProPublica, which points to its own reporting -- in 2008 -- on the SEC's porn problem . Someone was doing a lot more than looking at the time -- the IG had found an employee running a porn-operation with the agency's computers."


Gee, why am I not surprised about this?


This was happening during the 2000-2008 era - that would also be the Bush Republican era.


This is one of the ways that Republicans allowed their robber baron Wall Street pals to tank our economy - they hired partisan stiffs who didn't do anything but play on their computers while they were supposed to be policing Wall Street.


Heckuva Job, Wingnuts!



Meh...

Online porn, current state of the financial sector...people are getting screwed in both, what's the difference?


I am amazed there are not more wingnut attacks. Maybe some of them aware that most of these people were hired before Obama becane President, and the previous administration didn't catch anyone.


What a surprise. As Obama pushes for more government regulation, Silva has a problem with pointing out the never-ending ineptness of current regulators.

Of course, the SEC was aware of numerous red flags raised about Madoff and didn't act on the tips.

And then there's Fannie Mae and Freddie Mac and the numerous warnings about them that wete dismissed.

What you usually end up with is bigger government supported by the taxpayer which simply allows for more people to develop more cozy relationships to benefit themselves and screw the taxpayer.

BTW, why won't Obama return the nearly $1 million he received from Goldman Sachs?


Bill Moyers Journal had some damning things to say about the Bush Admin's SEC.

And he didn't even get to this latest outrage.

Black, one of his guests tonight, pointed out the the Bush "wrecking crews" are still in place at the lower levels of the SEC (and of course the other agencies).

In olden days, we called them "sappers". Embeds (to use later jargon), infiltrators, left in place to sabotage the agencies....

Also Black had some very damning things to say about Holder's non-action in regard to indicting the crooks on Wall St.

But since America is so prudish, perhaps these sappers can be fired for watching nastiness on company time......


That would be poetic justice.....


The work computer of one regional supervisor for the U.S. Securities and Exchange Commission showed more than 1,800 attempts to look up pornography in a 17-day span: "It was kind of distraction per se," he later told investigators.


I wonder how long they have been sitting on that story? Oh, yeah, they just discovered it!! Sure they did !! Right after a lawsuit was filed against Goldman Sachs!! That's hilarious !! It's some more of that good, old, " fear and smear " machine of the now, almost, defunct, Republican-Libertarian-T.Baggers !! You know those good, old Americans that come to political debates in full battle gear and chime: What? I'm just exercising my rights !!
For the Republican-Liberrtarian-T.Baggers, the Obstructionists in our Senate, it's time to distract the American public from Financial Reform and what better purpose to use such a wonderfully packaged story. It has sex, government waste and of course, dirties the Democrats !! They will present it during the Financial Reform battle and try to make the Democrats look bad. Well, they may look bad for the moment, but the Republican-Libertarian-T.Baggers continue to stay in the " looking bad " dog house !! Sorry, Charlie, America wants Finance Reform and that means more regulations for the under-regulated. We don't need any more financial WMD left behind, sown during the Bush&Cheney years. That is why we are insisting on Financial Reform, no more financial meltdowns, where the Weasels of Wall Street get all of the taxpayer help and then stiffs the very taxpayers, that helped them. Those Republican-Libertarian-T.Baggers are getting sillier by the minute !! It is time to let them know, we , the American people, make the rules, not the Fat Cats and Weasels of Wall Street or their political hacks !!
SUPPORT OUR TROOPS, BRING THEM HOME, ALIVE AND WHOLE. NOW.


Miss Bush yet??

Yeah, the guy who hired people into the SEC who'd rather watch pr0 n than Goldman Sachs.

I sure don't.


Ah, the Repubs know that there's only ONE thing that gets people's attention and that is a good sex scandal (unless it's one of their own, then they just say he's forgiven). It's a sure fire thing to get the lowest common denominator in their camp.


These numbnuts are now in charge of 1/6 of the US economy.

Posted by: Inspiring Confidence Thru Porn | April 23, 2010 3:12 PM

Well that would be bad, but it's actually worse. The inbred numbnuts cross over from private banking positions back to public employee, thus doubling down on the numbnuttiness.

And, these people are in charge of basically 100% of the economy. Leading us to be told to say "thank you" to these very numbnuts when they are so kind as to throw us governed peons a bone. Gee thanks numbnuts.


The senior supervisors who were making large six figures salaries and were caught surfing porn while at work, are probably still working or took another position paying a fraction less then what they were getting, and that was too high to begin with. Our government needs revaluate the job posting salaries, and reduce these inflated salaries plus make these people earning these salaries earn their pay! How long will this abuse continue?


Who says all these SEC employees are Democrats? i don't recall reading that in the story. Let me know where I missed that.


If the Republicans do have proof that all of the porn surfers are Democrats, then they can use it as a campaign point. But you know what they say when you assume something. They'll be awful red in the face if they find out they were all Republicans surfing the porn.


I don't think any of these people should simply be disciplined, they should all lose their jobs and be prosecuted for theft. You'd fire a contractor if you find him/her sleeping on the job, why not fire all these people?


Matt: Sounds like you're projecting.


Lochness,

It doesn't matter it these employees are democrat or republican or independent, fact is, they are gov't employees and this is the service we get for our tax dollars or for a grandkids' tax dollars


To those, " not so bright ", girls and boys of the Republican-Libertarian-T.Baggers, there are a lot of government workers, including our heroic women and men of our Armed Forces, those that don't take bribes from lobbyists, that are hard workers and earn every dollar they make. You're so worried about your tax dollars, why don't you go over to Iraq or Afghanistan, serve our country and make sure Haliburton or Blackwater USA aren't taking our tax dollars under false pretenses. Now, that was Blackwater, not Whitewater. I think you know the difference; the later being that phony investigation that cost us, the taxpayers, 58 Million Dollars, trying to trap President Clinton !! Another " brilliant " political strategy by those clever Republican-Libertarian-T.Baggers !!
SUPPORT OUR TROOPS, BRING THEM HOME, ALIVE AND WHOLE. NOW.


Terry:

Yes, it does not matter what flavor of political party the employees support. My point is that these Republican candidates are trying to paint the porn surfers as Democrats and trying to score political points when party affiliation has not been defined in the story.


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