SEC Computer System Not So Great For Catching Insider Trading

from the whoops dept

Well if the FBI can have a terrible computer system that's useless at catching terrorists, should it really be much of a surprise that the SEC has a computer system that isn't particularly useful at catching insider trading? That, at least, is the word from the Government Accountability Office (GAO) in its latest report to Congress. Apparently the GAO found that the SEC's computer system can't even search referrals from its own investigators concerning insider trading. Of course, what's not clear (at least from the article) is how much the SEC paid for this computer system... and how much more it will cost to get one that's actually useful.

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  1. identicon
    Big J, 19 Dec 2007 @ 7:34pm

    Oops

    ...and I'm sure that those in the SEC involved in getting this system in the first place were merely incompetent...no pressure to fuck up here!

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