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Here's another perspective on the Bear Stearns issue with the SEC. The primary focus on this is how the SEC had acknowledged Bear Stearns shady pricing methods for their CDOs but did nothing to stop them until the bail out.
On a personal note, I have large issue with the concept of a tax payer bail out. Whether the government admits it or not, when the Federal Reserve backs these deals it is you and me that foot the bill if things go sour. We as taxpayers should not have to pay for their indiscretions that made them a fortune over the boom of subprime lending but has now led to their demise.
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