TMP has presented a terrible, yet not surprising, description of the enforcement arm of the SEC.  Based on this detailed description of this dyfunctional enforcement arm, no wonder securities fraud has been running rampant.

Oh, and on a related note, Huffpo reports that:

The inspector general tasked with overseeing and auditing the Federal Reserve knows pretty much nothing about what the Fed is doing. . . . She did not know where the Fed has invested its $2 trillion on the liability side of the balance sheet. “I do not know. We have not looked at that specific area at this particular point on,” she said.