NY Daily news – Faced with tough questions about why her agency’s top lawyer was allowed to write briefs and perform other legal work pertaining to Bernie Madoff despite his personal stake in Madoff’s epic Ponzi scheme, the chairwoman of the Securities and Exchange Commission basically pleaded ignorance.
“Knowing those things now, I wish that Mr. Becker had recused himself, absolutely,” said Mary Schapiro, who testified with four other witnesses Thursday before a subcommittee of the House Committee on Oversight and Government Reform, telling members that she hadn’t realized how much David Becker’s participation in the contentious bankruptcy case could injure the SEC’s credibility.
