“The fraud college concept is a great one,” SEC chairman Mary Schapiro said today, of the agency’s new plan to prevent themselves from making massive cockups such as they did with Bernie Madoff. Bess Levin at DealBreaker is underwhelmed. “Fraud college”? Is sticking “college” on the end of it supposed to make the thing seem prestigious? Like Hamburger University?” [Bloomberg, DealBreaker]
