"'I don't think the agency is going to change much because I don't see anything where people are being held accountable and responsible,' Rep. Steve Pearce (R-N.M.) said," according to the Wall Street Journal. The panel investigating the Securities and Exchange Commission's handling of the Stanford case -- the agency knew there were problems with Stanford's firm as early as 1997 but didn't act -- were told that a former SEC official responsible for blocking attempts to investigate Stanford, former Fort Worth Regional Office Enforcement Chief Spencer Barasch, might become the target of a federal criminal investigation to see if he broke any laws in representing Stanford after he left the agency in 2005.
