A former Securities and Exchange Commission enforcement official who has been accused of repeatedly blocking efforts to investigate R. Allen Stanford, the Houston financier charged with running a $7 billion Ponzi scheme, is the subject of a federal criminal inquiry for having done legal work for Mr. Stanford after leaving the S.E.C., government officials said Friday.The SEC is gutless. Even though this guy, Spencer Barasch, can't even find Republican congressman to stand up for him, there is a criminal investigation against him and there is a state bar ethics complaint in the works, the SEC will not stop him from representing clients to the SEC.
Because he was one of them, after all.
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