December 16, 2010
I strongly favor the SEC establishing a full-fledged
whistleblower system that uses both the whistleblower and
his attorneys to resolve cases under the Dodd-Frank law.
It seems to me completely clear from our recent history that
there will be many opportunities to punish corporate mal-
feasance that is undoubtedly taking place on a regular basis.
Certainly, it is clear that under Republican administrations, the SEC repeatedly failed in its obligations to investigate many blatant abuses carried out by financial institutions
and corporations, causing huge losses both to investors
and to the U.S. Treasury.