You like transparency? Here you go.
The SEC just made a MASSIVE document dump related to its failure to catch Madoff. Of course, it’s all embarrassing, so it’s on a Friday afternoon, when everyone’s too lazy to go through it. There are 536 documents in total.
Here’s one we picked out randomly. Document 519, which is a letter to Shana Madoff Skoller, Bernie Madoff’s niece (and of course the wife of an SEC enforcer). (via super-sharp SEC watcher Michelle Leder)