Schapiro calls SEC's oversight of Lehman "flawed"

03/18/2010 | Bloomberg

Mary Schapiro, chairman of the Securities and Exchange Commission, acknowledged that the agency was not up to par in its oversight of Lehman Bros. "It was so terribly flawed in design and execution," Schapiro told a congressional committee. "We were ill-suited because of our enforcement and disclosure mentality." Schapiro's comment comes days after an examiner's report was issued regarding the Lehman bankruptcy.

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