SEC taking action against Refco - $545 Million in question

Hundreds of millions in funny money, hedge funds worries and more questions about who actually looked into their books. They only started trading on the NYSE in August, so who in the hell actually promoted this dog with fleas? Goldman Sachs and Credit Suisse First Boston, underwriters for the IPO, seem to be back to the days of hyping rubbish to suckers. How could they not know that there was such a mess?

How many times are investors going to get clobbered on Wall Street and why would anyone want to invest with yet another case of insider abuse? So let's hear from the apologists who always insist that industry can self-regulate.