While economy crumbled, top financial watchdogs at SEC surfed for porn on Internet: memo

Just what does the government of the United States do in an competent way? Waste, fraud, neglect, disservice, corruption …one wonders what we don’t know? Same old change.

While economy crumbled, top financial watchdogs at SEC surfed for porn on  Internet: memo

BY Leo Standora DAILY NEWS STAFF WRITER

Originally Published:Friday, April 23rd 2010

Who watches the watchmen? SEC senior staffers used government computers to browse for booty, according to a memo.

At the SEC, all they thought about was SEX

The country’s top financial watchdogs turned out tobe horndogs who spent hours gawking at porn Websites as the economy teetered on the brink, according to a memo released Thursday night.

The shocking findings include Securities and Exchange Commission senior staffers using government computers to browse for booty and an accountant who tried to access the raunchy sites  6,000 times in one month. Their titillating pastime was discovered during 33 probes of employees looking at explicit images inthe past five years, said the memo obtained by The Associated Press.  It says 31 of those probes occurred in the 2-1/2years since the country’s financial system nearly crashed.

The report was written by SEC Inspector General David Kotz in response to a request from Sen.Charles Grassley (R-Iowa).

Among the startling findings:- A senior attorney at the SEC’s Washington headquarters spent up to eight hours a day looking at and downloading pornography. When his government computer ran out of hard drive space,  he burned the files to CDs or DVDs. He later agreed to resign.

- An accountant was blocked more than 16,000  times in a single month from visiting “sex” or”pornography” sites, but still managed to amass a collection of  “very graphic” material by using  Google to bypass the SEC’s internal filter. He wound up with a 2-week suspension.

- Seventeen of the randy employees were “at a senior level” earning salaries of up to $222,418.

- The number of cases jumped from two in 2007 to16 in 2008.  The cracks in the financial system emerged in mid-2007 and spread into full-blown panic by the fall of 2008.

California Rep. Darrell Issa, the top Republican on the House Committee on Oversight and Government Reform, said it was “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.”  An SEC spokesman declined to comment last night.

lstandora@nydailynews.com

With News Wire Services

http://www.nydailynews.com/money/2010/04/23/2010-04-23_porn_among_daily_duties_of_top_sec_honchos_sez_report.html