New York Post – IT’S good to see that the U.S. Securities and Ex change Commission has come to its senses and that – at least for the time being – it won’t be enforcing the media subpoenas that have gotten the press so riled up.<\/p>\n
But before anyone breaks out the pom-poms for SEC Chairman Christopher Cox, let’s remember that these wrong-headed subpoenas were 100 percent the responsibility of Cox’s own agency in the first place – and until the SEC develops better, more focused leadership, problems like those caused by these subpoenas are going to keep occurring.<\/p>\n
What’s more, while the SEC has been chasing after wrongdoing by hedge funds that may not even have occurred, real examples of hedge-fund misconduct have gone ignored.
Consider the Lancer hedge fund case, which has been rotting like a dead fish in the agency’s own files for years.<\/p>\n
Two weeks ago, a federal judge in Miami unsealed more than 40 pages of internal e-mail, memos and similar materials produced in the Lancer hedge fund fraud case, which developed out of a series of articles that ran in The Post almost four years ago.
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