What Do SEC Lawyers Do?

Look at porn apparently. From Yahoo News:

A senior attorney at the SEC's Washington headquarters spent up to eight hours a day looking at and downloading pornography. When he ran out of hard drive space, he burned the files to CDs or DVDs, which he kept in boxes around his office. He agreed to resign, an earlier watchdog report said.

As Rome burned, the taxpayers funded the SEC's porn habit; to the tune of over $200,000 a year.

Even the SEC Needs Legal Training

Bloomberg reports that the SEC is considering the prospect of establishing a "fraud college" to help staff detect "market abuses" like Bernard Madoff's $65 billion fraudulent ponzi scheme. Reasoning that such an educational program would be "particularly valuable," Commissioner Mary Schapiro noted that "[the] SEC is already training more than 300 examiners on ways to spot fraud after Madoff eluded the [agency] for more than 16 years."

Check it out.