Goldman Exec Named First COO of SEC Enforcement
October 17th, 2009The money is so dirty now, the gains so ill-gotten, that the most diabolical of ALL Wall Street firms needs to create a PRIVATE exchange because the existing bogus securities laws (WorldCom, Enron, blah blah) are too cumbersome and time consuming!?
Watch this space; if you dare.
I was mid sip of coffee as I was skimming headlines in the feed reader. I’m still sputtering.
Appropriately, there’s a thunder storm passing over us right now. The thunderclaps are long, low and ominous.
Via: AP:
A Goldman Sachs executive has been named the first chief operating officer of the Securities and Exchange Commission’s enforcement division.
The market watchdog agency said Friday that Adam Storch, vice president in Goldman Sachs’ Business Intelligence Group, is assuming the new position of managing executive of the SEC division.
The move came as the SEC has been revamping its enforcement efforts following the agency’s failure to uncover Bernard Madoff’s massive fraud scheme for nearly two decades despite numerous red flags.
Storch, who will be responsible for project management and operations, will report to SEC Enforcement Director Robert Khuzami.
Along with the enforcement division’s deputy director, Storch also will supervise the SEC’s Office of Market Intelligence, with an eye to improving the monitoring, collection and analysis of the hundreds of thousands of tips and complaints the agency receives annually.
Before joining Goldman Sachs, Storch was a senior consultant at accounting firm Deloitte & Touche. He is a certified public accountant and certified fraud examiner, and has an MBA from New York University and bachelors of science in business administration from the State University of New York in Buffalo.
Storch has a strong background in technology systems and project management, Khuzami said in a statement. “He will help to make us more efficient and nimble, and permit us to put more of our investigators on the front lines to detect and stop fraud,” Khuzami said.
Khuzami, a former federal prosecutor who came to the SEC in March from Wall Street investment firm Deutsche Bank, says he has undertaken the most extensive restructuring of the enforcement division in at least 30 years.
Fox. Chickens. Hen House. ‘Nuff said.