Friday, January 29, 2010
Big 87654 at the SEC
"[SEC] Chairman Mary Schapiro has appointed Carlo V. di Florio as the director of the agency's Office of Compliance Inspections and Examinations, or OCIE, the SEC said Monday. ... Mr. di Florio comes to the SEC from PricewaterhouseCoopers where he was a partner in the financial-services regulatory practice. The SEC said Mr. di Florio strengthened PwC's corporate-governance, risk-management and regulatory compliance practice and defined new industry standards", my emphasis. Fawn Johnson, WSJ, 5 January 2010: http://online.wsj.com/article/SB10001424052748704350304574638742574432328.html.
Couldn't the compromised SEC find a non-Big 87654 partner for this? PWC "audited" both AIG and Vampire Squid (VS), financial services industry firms. Did di Florio work on the AIG and VS audits? Does he know what he is doing, or did the Big 87654 install him at the SEC as part of the "continuing coverup"? Imagine. di Florio "strengthened PwC's ... standards". Think about how weak they must have been before di Florio got there. Laugh.