It has been a tough few years for the Securities and Exchange Commission. It failed to spot Bernard L. Madoff’s multi-billion dollar Ponzi scheme after numerous warnings and investigations. Its blindness leading up to the financial crisis dropped its reputation to unprecedented lows as Congress and the media bashed the agency like a piñata, painting it as a bumbling and ineffectual sheriff incapable of serving as a watchdog over clever and fleet-footed miscreants.

It has been a tough few years for the Securities and Exchange Commission. It failed to spot Bernard L. Madoff’s multi-billion dollar Ponzi scheme after numerous warnings and investigations. Its blindness leading up to the financial crisis dropped its reputation to unprecedented lows as Congress and the media bashed the agency like a piñata, painting it as a bumbling and ineffectual sheriff incapable of serving as a watchdog over clever and fleet-footed miscreants. More in Forbes here.